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Ascendia Brands Completes Acquisition of the Healing Garden and Calgon

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By: TOM BRANNA

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Ascendia Brands, Inc., has completed the acquisition of the Healing Garden and Calgon brands, licenses and brand assets from Coty, Inc. and certain affiliates. The purchase price (prior to closing adjustments) was $125 million, including a $20 million subordinated promissory note and $10 million in Ascendia stock, to be issued within 30 days following closing. The asset purchase agreement also contemplates possible earn-out payments, in July 2009, of up to $15 million in cash, and an additional ...

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