Acquisition

3 Months Ended

Mar. 31, 2017

Business Combinations [Abstract]

Acquisition

10. Acquisition

On January 17, 2017, the Company acquired the VIVISCAL business from Lifes2Good Holdings Limited for approximately $160 (“Viviscal Acquisition”).  VIVISCAL is a leading hair care supplement brand both in the U.S. and the U.K. with global annual sales of $44 in 2016.  This brand is complementary to the Company’s global BATISTE dry shampoo and TOPPIK hair care business. The acquisition was funded with short-term borrowings and will be managed in the Consumer Domestic and Consumer International segments.

The preliminary fair values of the net assets acquired are set forth as follows:

	Acquisition Date
	Preliminary
	Fair Value
Inventory and other working capital	$	10.3
Trade names and other intangibles		119.6
Goodwill		36.9
Current liabilities		(6.5	)
Cash purchase price (net of cash acquired)	$	160.3

The life of the amortizable intangible assets recognized from the Viviscal Acquisition ranges from15 - 20 years.  The goodwill is a result of expected synergies from combined operations of the acquisition and the Company. Pro forma results are not presented because the impact is not material to the Company’s consolidated financial results.