Energizer Holdings, Inc. has announced an agreement to acquire the Stayfree pad, Carefree liner and o.b. tampon feminine hygiene brands in the U.S., Canada and the Caribbean from McNeil PPC, Inc. and Johnson & Johnson, Inc. (Both are part of the Johnson & Johnson Family of Consumer Companies).

The purchase price is $185 million in cash. Included in the sale are all brand assets, and the Johnson & Johnson, Inc. manufacturing plant in Montreal, Canada.

Energizer estimates that the acquisition will be modestly accretive in fiscal 2014. Closing is subject to customary conditions, including regulatory approval, and is expected to occur in the fourth quarter of 2013.

“We are very excited about the prospect of combining the Stayfree pad, Carefree liner and o.b. tampon feminine hygiene business with our Playtex Feminine Care business, strengthening both in the process,” said Ward Klein, CEO, Energizer.

Klein continued, “Combining these complementary businesses gives us brands in each of the key feminine hygiene categories, and the opportunity to innovate by doing what we do best – simplifying and enhancing the lives of customers and consumers better than anyone else.”

Goldman, Sachs & Co. acted as financial advisor to Energizer on this transaction.