Prestige Brands Holdings Inc. (NYSE: PBH) has agreed to sell the Fiber Choice, New Skin and PediaCare brands to Moberg Pharma AB for $40 million in cash. The sale is part of Prestige’s “invest for growth” plan, while it gives Moberg a chance to expand in the U.S.
New Skin makes liquid bandages; PediaCare produces over the counter children medicine; and Fiber Choice manufactures fiber care products. Prestige, based in Tarrytown, New York, says the divestitures will move the company closer to having 85 percent of Prestige’s total revenue come from “invest for growth” product lines. Prestige owns the Clear Eyes, Dramamine and Luden’s brands. In 2015, Prestige acquired floss picks maker DenTek Oral Care Inc. from TSG Consumer Partners LLC for $225 million in cash.