Wyeth to buy P&G's ThermaCare brand
Procter & Gamble will sell its 6-year-old ThermaCare HeatWrap brand to Wyeth Consumer Healthcare. No terms were disclosed, but industry experts estimate global sales of the brand have reached about $100 million.
LeaderShift Blog
LeaderShift Blog
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Wyeth to buy P&G's ThermaCare brand
New Global Marketing Officer Appointed at P&G
New Global Marketing Officer Appointed at P&G
Marc S. Pritchard has been elected global marketing officer at The Procter & Gamble Company, effective Aug. 1, 2008, reporting to Robert A. McDonald, chief operating officer. He is to replace James R. Stengel, global marketing officer, who will retire effective Oct. 31, 2008, after 25 years of service.
According to P&G, until that time, effective Aug. 1, 2008, Mr. Stengel will work on special projects and the transition of positions. Mr. Pritchard is currently president, strategy, productivity and growth at the company.
InBev and Anheuser-Busch agree to merge
InBev and Anheuser-Busch agree to merge
InBev and Anheuser-Buschsaid they agreed to combine the two companies, forming the world's leading global brewer.
Anheuser-Busch shareholders will receive $70 per share in cash, for an aggregate equity value of $52 billion. The combined company will be called Anheuser-Busch InBev. Both companies' boards of directors have unanimously approved the transaction.
InBev has fully committed financing for the purchase of all of Anheuser-Busch's outstanding shares and the companies said they see cost synergies of at least $1.5 billion by 2011, phased in equally over three years.
The transaction is expected to be neutral to normalised in terms of earnings per-share in 2009 and accretive beginning in 2010, and return on invested capital will exceed weighted average cost of capital during the second year after close.
InBev CEO Carlos Brito will be chief executive officer of the combined company, while the rest of the board will comprise the existing InBev board, current Anheuser-Busch president and CEO August Busch IV, and one current or former director from Anheuser-Busch's board.
Allergan Completes Acquisition of Aczone Gel
Allergan Completes Acquisition of Aczone Gel
Topical treatment for acne sells for $150 million
Allergan, Inc.’s wholly-owned subsidiary, Allergan Sales, LLC, and QLT USA, Inc., a wholly-owned subsidiary of QLT Inc. announced the completion of Allergan’s acquisition of QLT’s Aczone (dapsone) Gel 5% product, a topical treatment for acne.
“We are pleased with the opportunity to grow our franchise in medical dermatology where there is a continuous need for new treatment options and strong growth potential,” said David E.I. Pyott, Allergan’s chairman of the board and chief executive officer. “Building upon our more than 10 years of success with Tazorac (tazarotene), we will now offer dermatologists the only acne treatment with dapsone in a topical formulation to provide to their patients in North America.”
Allergan paid approximately $150 million for all assets relating to Aczone Gel 5%. Allergan will not alter financial guidance for 2008 as a result of the transaction. Allergan expects to launch Aczone Gel 5% in the fourth quarter of 2008 in the United States and Canada.
President, CEO Departs from Jafra
President, CEO Departs from JafraJafra Cosmetics International, Inc. has announced the departure of Frank Mineo, formerly president and chief executive officer. Mr. Mineo was appointed to his role a little over a year ago on June 15, 2007. A replacement has not been revealed at press time.
According to the company, during his tenure, Mr. Mineo (with the Vorwerk Executive Board) completed Jafra’s Management Board with the hiring of Janice Jackson, chief marketing officer and Connie Tang, president of Jafra USA, both effective June of this year.
Church & Dwight Buys Orajel and Other OTC Brands
Church & Dwight Buys Orajel and Other OTC Brands Church & Dwight Co. Inc., makers of Arm & Hammer products, completes its previously announced acquisition of the Del OTC pharmaceutical business from Coty Inc. The transaction was completed substantially under the original terms announced on April 1, 2008, which called for Church & Dwight to pay $380 million in cash at closing. The purchase price was financed with a $250 million addition to its bank credit facility and available cash.
Church & Dwight manufactures and markets a wide range of personal care, household and specialty products under the Arm & Hammer brand name and other well-known trademarks. "The Orajel brand will be a great addition to the Church & Dwight family," says James R. Craigie, Church & Dwight chairman and CEO. "We are excited to expand our personal care portfolio and strengthen our presence in the strategic oral care category."
ConAgra appoints Linne to New Advertising, Marketing Post
ConAgra appoints Linne to New Advertising, Marketing Post
Dave Linne has joined ConAgra Foods, Inc. as s.v.p./advertising. Designed to be integral in elevating the company’s marketing to consumers and customers, the position is a new one at Omaha-based ConAgra.
ConAgra said it added the new position to enhance its consumer and customer marketing platforms.
Joan Chow, ConAgra’s e.v.p./c.m.o., applauded Linne’s “highly creative and effective advertising for a wide variety of consumer brands. He has written, developed and produced numerous award-winning campaigns for some of the most demanding and well-regarded businesses and brands in the world.”
Linne most recently served as executive creative director and e.v.p. for Leo Burnett
Campbell Expands U.S. Soup Business, Acquires Wolfgang Puck Brand
Campbell Expands U.S. Soup Business, Acquires Wolfgang Puck Brand Campbell Soup Company recently outlined the evolution of several key strategies and detailed innovations planned for the upcoming fiscal year. Douglas R. Conant, Campbell's president and CEO, says, "We continue to be on track with major wellness initiatives across our portfolio, most notably in our U.S. soup business. We remain very bullish about our U.S. soup innovation initiatives for this upcoming fiscal year and beyond. Additionally, I am pleased with our progress in both Russia and China. We continue to be very optimistic about our prospects in both markets and envision further expansion in the coming fiscal year."
Denise Morrison, president, North America Soup, Sauces and Beverages, outlines plans for the company's U.S. Soup business for the upcoming fiscal year, with a focus on the introduction of innovative new products. Some of these brands include the expansion of its Swanson stock line, Campbell's Select Harvest soups and V8 soups to name a few. Larry McWilliams, president-Campbell International, reviewed the company's progress in the emerging markets of China and Russia, where Campbell launched new products in September 2007.
The Campbell Soup Company also acquires the Wolfgang Puck soup business from Country Gourmet Foods. Separately, Campbell has entered into a master licensing agreement with Wolfgang Puck Worldwide Inc. for the use of the Wolfgang Puck brand on soup, stock and broth products in North American retail locations, with an option to extend the brand into other related categories and channels.
Heinz to acquire French sauce company Benedicta
Heinz to acquire French sauce company BenedictaThe H.J. Heinz Co. announced today it's acquiring Benedicta, a French manufacturer of sauces, mayonnaises and salad dressings for an undisclosed price.More than 100 years old, Benedicta has annual sales in the $90 million range. The company was the first inHeinz said the transaction is subject to review by regulatory agencies and a local Works Council, a committee representing workers elected to negotiate with management.
Campbell’s buys Wolfgang Puck soup business
Campbell Soup Co. is moving into the organic-soup section of the supermarket with the purchase of the Wolfgang Puck soup business from Country Gourmet Foods L.L.C., the company said today.The price was not disclosed.The deal will not have a material impact on its results for fiscal 2009, which starts in August,Separately,"As the world's leading soup company, Campbell must expand its role in the organic segment of the market," Campbell's president and chief executive officer, Douglas R. Conant, said in a news release.
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