Helen of Troy rejects non-binding proposal from Empower Brands
HELE•Helen of Troy rejected an unsolicited, non-binding proposal from Spectrum Brands and Oaktree Capital Management, saying it substantially undervalues the company. It expects mid-to-high-teens adjusted EPS growth over five years and plans to reduce debt by a further $92 million by the end of fiscal 2027.
1. Proposal rejected
Helen of Troy said it rejected an unsolicited, non-binding proposal from Spectrum Brands and Oaktree Capital Management because it substantially undervalues the company. It reiterated confidence that executing its strategic plan will continue to deliver enhanced value.
2. Outlook and debt
The company expects low-to-mid single-digit net sales growth and mid-to-high-teens adjusted EPS growth over five years. It said it is reinvesting $66.5 million to $70.5 million of tariff refunds in the business, had reduced debt to $673 million as of the second quarter, and expects a further $92 million reduction by the end of fiscal 2027.
