High Ridge Brands completes sale of hair care & skin cleansing business

High Ridge Brands has completed the sale of oral care business to an affiliate of Perrigo Company and hair care and skin cleansing business to an affiliate of Tengram Capital Partners.

High Ridge Brands CEO and president Patricia Lopez said: “We are pleased to complete these value-maximizing sales to two buyers who bring significant resources and experience helping brands build on their strong foundations.

“We have worked closely with both Perrigo and Tengram to ensure a seamless transition for our customers and consumers. I would also like to thank our employees for their hard work and dedication to serving our customers throughout this process.”

As announced on 24 February, after a comprehensive sales process and a competitive auction conducted under Section 363 of the US Bankruptcy Code, an affiliate of Perrigo and an affiliate of Tengram Capital have agreed for a cash payment of $120.5m to High Ridge Brands and the assumption of working capital and all go-forward liabilities of the businesses.

Following the completion of the transaction, the court-supervised sale process has concluded.