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View Case StudyDecember 12, 2006
Braun GmbH and Kaz, Inc. Announce Strategic Partnership
Business Wire, All Rights Reserved

NEW YORK — Braun GmbH, part of Procter and Gamble, and Kaz, Inc., New York, have formed a strategic partnership under which Kaz has acquired Braun's thermometer and blood pressure monitoring business. The partnership also includes a licensing agreement between the two companies, under which the products will be marketed by Kaz under the Braun name.

The business comprises Thermoscan (the world's leading infrared thermometer brand), digital thermometers and wrist blood pressure monitors and currently represents about 5% of Braun's global sales. On December 8, 2006 Kaz took over global responsibilities for these products.

The agreement was a strategic decision by both companies to enable them to focus on their core businesses. "With this decision, Braun will be able to further build its leadership role, accelerate growth and focus on innovation in our core categories," says Bracken Darrell, President Global Braun. "Kaz has successfully licensed P&G's Vicks brand since 1995, and therefore we see them as an ideal trustworthy partner for Braun."

Commenting on the partnership, Richard Katzman, CEO of Kaz, said "adding Braun thermometers and blood pressure monitors as well as its strong brand equity to Kaz's health care portfolio will be a key driver to further grow our worldwide business. Kaz is especially excited about the growth opportunities this brings to our European business." Kaz is currently the US market leader in digital thermometers; with the addition of Braun Thermoscan it will become the worldwide thermometer leader.

Braun and its vendors will continue manufacturing thermometers and blood pressure monitors for a significant period of time after the transaction.

Following this transaction, there will be a transition period. Braun will provide support to Kaz to ensure business continuity and maintain customer service.

Kaz has been manufacturing and selling high quality consumer devices for 80 years, employing more than 4,000 employees in 80 countries. Sales are in excess of $400m. Kaz is the global licensee of the Honeywell Brand from Honeywell International. For the past five years, Kaz has marketed a diverse line of Honeywell home environment products including air purifies, heaters, fans and humidifiers. Kaz's other major product lines include Vicks thermometers, vaporizers and humidifiers, Stinger insect control products and Softheat hot/cold therapy pads.

Sawaya Segalas & Co., LLC served as financial advisor to Kaz, Inc.
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