Helen of Troy to draw on revolver for Drybar Products purchase

By Sara Rosenberg

New York, Dec. 19 – Helen of Troy Ltd. plans to use borrowings under its existing revolving credit facility and cash on hand to fund its acquisition of Drybar Products LLC, according to a company presentation.

The total purchase consideration is about $255 million in cash.

Closing is expected by Jan. 31, subject to customary conditions, including regulatory approvals.

Helen of Troy is a Hamilton, Bermuda-based designer, developer and marketer of housewares, health and home, and beauty products. Drybar is a hair care and styling brand.

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