Ascendia Brands Inc. has announced a deal with Coty Inc. to acquire the Healing Garden and Calgon brands. According to Ascendia, the acquisition will put annual revenues at US$200 million, double its current annual revenues. Healing Garden and Calgon are the number one and two brands in the bath sector for Coty, and their addition to Ascendia reportedly will strengthen the company's portfolio which currently hosts Mr. Bubble and Lander.
Coty execs have reported that the deal will allow the company to focus on its fragrances and cosmetics business. Ascendia is hoping to become a stronghold in the bath and body sector. The acquisition is for a reported US$125 million dollars. The deal is expected to close by March 1, 2007, pending customary closing conditions.