Financial News

EL PASO — Helen of Troy Limited, a designer, developer and marketer of brand-name household and personal care consumer products, posted a boost in fiscal year revenues in its personal care segment, primarily reflecting its March 2010 acquisition of the Pert Plus and Sure brands.

For the fiscal year ended Feb. 28, net revenue in the personal care division increased 9.4% to $491 million, compared with $449 million in the year-ago period.

For the fourth quarter, the segment posted net revenue of $113 million, up 11%, compared with $102 million in the year-ago period.

WALTHAM, Mass. — Alkermes will buy Irish drug maker Elan’s drug formulation and manufacturing business for $960 million, the two companies said Monday.

Alkermes will buy Elan Drug Technologies and incorporate the combined company in Ireland, naming it Alkermes PLC. Alkermes said the acquisition would give it an edge in treating central nervous system disorders and expected to have diverse revenue streams from 25 commercialized drugs.

LONDON and ROTTERDAM, Netherlands — Unilever has completed its $3.7 billion acquisition of Alberto Culver after obtaining the necessary regulatory clearances to do so, the companies jointly confirmed on Tuesday.

With the acquisition, Unilever becomes the world's leading company in hair conditioning, the second largest in shampoo and the third largest in styling. Alberto Culver generated annual sales in excess $1.6 billion in fiscal year 2010.

VENICE, Fla. — SinoFresh HealthCare on Friday announced that its board of directors has approved a 1-for-1,000 reverse stock split for its common stock only as part of a broad based plan to restructure the business.

The action effects shareholders of record as of May 20 and is effective on May 23, or as soon thereafter as FINRA, an independent securities regulator, has approved the action.

MELROSE PARK, Ill. — Alberto Culver, whose beauty brands include TreSemme, Alberto VO5, Nexxus, St. Ives, Simple and Noxzema, has announced that Unilever and the U.S. Department of Justice have reached an agreement that will enable Unilever to complete its proposed acquisition of Alberto Culver.

STAMFORD, Conn. — Nestle Waters North America has inked a deal to acquire the maker of Sweet Leaf and Tradewinds beverage brands.

Nestle Waters said its acquisition of Austin, Texas-based Sweet Leaf Tea Co. — which was founded in 1998 — is subject to applicable regulatory approval and satisfaction of other customary closing conditions. The deal will expand the company's beverage portfolio of bottled water to include high-quality iced teas, lemonades and juice drinks.

LAKE FOREST, Ill. — Akorn, a niche generic pharmaceutical company, earlier this week entered into an agreement to acquire Advanced Vision Research, an over-the-counter ophthalmic company that promotes eye care products under the TheraTears and MacuTrition brands.

DUBLIN, Ohio — Healthcare services company Cardinal Health announced that its board of directors has approved an increase in the company's quarterly dividend to 21.5 cents per share, or 86 cents per share on an annualized basis.

The declared dividend marks a 10% increase above what the company has paid out since July 2010, and also marks the 107th consecutive regular quarterly dividend for Cardinal Health.

The regular quarterly dividend is payable on July 15 to shareholders of record on July 1.