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Sawaya Segalas News
September 25, 2006
Lil' Drug Store Sells Wartner(R) Brand: Focuses on Women's Health and Convenience Businesses
PR Newswire

CEDAR RAPIDS, Iowa — Lil' Drug Store Products, Inc. today announced that it has sold the Wartner® brand wart removal system to Prestige Brands Holdings, Inc. (NYSE: PBH) of Irvington, NY. Wartner® is an over-the-counter wart removal device that utilizes cryotherapy, a method traditionally used by physicians, to remove warts. Sawaya Segalas & Co., LLC, a leading consumer products investment banking firm, served as exclusive financial advisor to Lil' Drug Store Products. The deal brings to completion an era for the product that reshaped the wart treatment industry.

"Since we acquired the exclusive rights to Wartner® in 2002, the wart treatment category has grown by more than 60%," said Chris DeWolf, president and chief executive officer of Lil' Drug Store Products. "While Wartner® is a terrific business, this sale will allow Lil' Drug Store to focus on its core women's health and convenience businesses," he added. Wartner® became the leading brand for wart treatment in 2003, winning Drug Store News' Silver Circle Award first runner up for best new First Aid product in that same year. In 2004, Lil' Drug Store launched plantar wart and kids line extensions.

"The current M&A environment is favorable for strong brands, and Prestige Brands is in a unique position to take Wartner® to the next level," said DeWolf.

"This sale will provide Lil' Drug Store with additional resources to invest in our women's health and convenience businesses domestically and internationally, plus accelerate the introduction of exciting new products," said DeWolf.

Lil' Drug Store Products markets Replens® and RepHresh® in 22 countries. Replens®, recently featured on ABC's Good Morning America, is the leading long-lasting vaginal moisturizer on the market. RepHresh®, re-launched in 2006, is the #1 vaginal pH-balancing product on the market. In addition, Lil' Drug Store is the leading marketer of convenience-size over-the-counter drugs. This success is driven by the Convenience Profitability Program, a program designed to help retailers and wholesalers manage their health and beauty care category for increased sales and profitability.

"Lil' Drug Store Products will continue to be the dynamic and innovative growth company it has been for more than 30 years," said DeWolf. "We are excited about our future and are glad to be where we are today."

About Lil' Drug Store Products, Inc.

Located in Cedar Rapids, IA, Lil' Drug Store Products is a global marketer and distributor of brand name over-the-counter drugs. Lil' Drug Store's Consumer Division sells a wide variety of products to grocery, drug and discount stores worldwide. Lil' Drug's Convenience Division distributes convenience-size, over-the-counter drugs to convenience stores, club stores and other classes of trade nationwide. For more information, please visit

http://www.lildrugstore.com.
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