Strides Shashun is set to acquire the brand PediaCare from Moberg Pharma for a total consideration of $5 million along with the current inventory. PediaCare originated from an acquisition in July 2016 (New Skin®, Fiber Choice® and PediaCare®, three well-established Over-The-Counter brands in the U.S. from Prestige Brands)
Peter Wolpert, CEO Moberg Pharma said:
We are pleased with the agreement with Strides which enables us to further focus on our strategic assets and M&A activities. We hope to close the transaction within the next four weeks
PediaCare has a strong equity amongst moms based on highly effective products for children, primarily within cough cold and analgesics segments with annual sales of US $6 million. With this acquisition, PediaCare will form an important part of Strides expanding its consumer healthcare portfolio along with a strong brand name.
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