CHICAGO – Global law firm Reed Smith represented Prestige Consumer Healthcare Inc. (NYSE: PBH) in a definitive agreement to acquire a portfolio of over-the-counter consumer brands, including TheraTears, from Akorn Operating Company LLC for $230 million.
The deal, which is expected to close in Q2, will expand Prestige’s leading eye care portfolio with the TheraTears brand, which represents about 80 percent of portfolio revenues. The acquisition also includes four other brands in the VMS and cough and cold categories. TheraTears is a nationally recognized physician-created brand with a strong user base in the over-the-counter “dry eye” product segment.
The Reed Smith deal team was led by Corporate Partner Michelle Moore (CHI), Nicholas Gibson (Senior Associate, CHI), and Virginia Pavlick (Associate, CHI), and included Cori Annapolen Goldberg (Partner, NY) and Peter Emmi (Partner, NY).
More information about the transaction is available in the company’s news release.