Prestige Consumer Healthcare to acquire Breathe Right in $1.045B strategic expansion
Prestige Consumer Healthcare (NYSE:PBH) today announced a transformative agreement to acquire a portfolio of iconic consumer brands, headlined by Breathe Right®, from Foundation Consumer Healthcare for a total purchase price of $1.045 billion.
When adjusted for approximately $150 million in anticipated tax benefits, the net enterprise value of the deal stands at approximately $900 million.
The move represents a major consolidation in the over-the-counter (OTC) space, bringing the world's leading nasal strip brand under the Prestige umbrella.
The acquired portfolio generated approximately $200 million in revenue and $95 million in EBITDA for the twelve months ended December 31, 2025.
At a net valuation of 9.5x EBITDA (11.0x pre-tax benefits), the transaction is viewed by analysts as a high-margin addition to Prestige’s existing respiratory and sleep-aid categories.
Management expects the deal to be immediately accretive to adjusted earnings per share and free cash flow upon closing, which is anticipated in the first half of Prestige’s fiscal 2027.
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