US personal care product manufacturer Helen of Troy Limited has entered into an agreement to acquire the licence for Vicks VapoSteam liquid inhalator products from The Procter & Gamble.
Helen of Troy has also acquired a separate licence for P&G’s Vicks VapoPad products, which consumers can buy to insert into humidifiers and inhalators.
The majority of Vicks VapoSteam products and VapoPads are used in Vicks humidifiers, vaporizers and other health care devices, which are already marketed by Helen of Troy.
Julien Mininberg, Chief Executive Officer at Helen of Troy, commented, “Acquiring the U.S. rights to Vicks VapoSteam makes us a leading player in the inhalant category. Adding VapoSteam to our existing VapoPads inhalant further strengthens our U.S. humidifier and vaporizer business, with consumable refills in both the liquid and pad form that deliver the distinctive Vicks scent and relief consumer’s love.
“By combining the businesses of devices and consumables, we are now able to give inhalants greater marketing focus and to invest in additional new product development. With excellent historical gross margins above our Company average, these transactions are expected to further enhance the profitability of our Healthcare/Home Environment segment, add incremental cash flow to Helen of Troy at an attractive valuation, and be accretive in fiscal year 2016. We are also delighted to deepen our long-term partnership with P&G.”
Helen of Troy also currently has licence agreements in place with P&G for Braun, Febreze and Vidal Sassoon.