Prestige to Acquire the Dramamine Brand from McNeil-PPC for $76M

Prestige Brands Holdings, Inc. PBH today announced that it has entered into a definitive agreement to acquire the assets associated with the Dramamine business in the U.S. from McNeil-PPC, Inc. for $76 million in cash. The transaction is expected to generate tax attributes with a present value of approximately $14 million, which would imply an effective purchase price of approximately $62 million.