Prestige Consumer Healthcare Completes $1.045B Breathe Right Acquisition, Gains Nasal Strip Market
PBH•Prestige Consumer Healthcare closed its acquisition of the Breathe Right nasal strip brand for $1.045 billion, netting $900 million after $150 million in tax benefits. The deal, financed with cash and a new Term Loan B, makes Breathe Right its largest brand and expands Prestige into nasal strips.
1. Acquisition Closing
On June 15, 2026, Prestige Consumer Healthcare finalized the purchase of the Breathe Right brand and certain other brands for $1.045 billion. The transaction yields approximately $900 million in net cost after recognizing $150 million of tax benefits valued under the asset purchase agreement.
2. Financing Structure
Prestige funded the deal through available cash on hand supplemented by a newly arranged Term Loan B, ensuring a balanced capital structure. The combination of liquidity and debt financing preserves cash flow flexibility and supports long-term debt obligations.
3. Strategic Impact
Breathe Right, an iconic #1 nasal strip brand since the 1990s, will become Prestige’s largest brand by sales volume and introduce the company to the nasal strip market segment. This expansion diversifies Prestige’s OTC portfolio alongside Monistat, Clear Eyes and other consumer healthcare products.
