Prestige Brands To Buy Enema Maker Fleet For $825 Million

Prestige Brands Holdings Inc. said late Thursday it plans to buy privately-held C.B. Fleet Co. for $825 million. Fleet is known for its line of over-the-counter enemas and laxatives, as well as its Summers Eve line of feminine hygiene products. Prestige expects the acquisition to increase the company's pro forma revenue in fiscal 2018 to about $1 billion. The company reported $806.2 million in revenue in fiscal 2016. Prestige said it expects to close the transaction by the end of its fiscal fourth quarter. Shares were unchanged at $48.74 after hours.