DALLAS, Sept. 3, 2019 /PRNewswire/ -- C-PAK Consumer Product Holdings d/b/a Prestige Value Brands, a wholly-owned subsidiary of Capital Park Holdings Corp. ("Capital Park"), today announced the formation of Prestige Value Brands and the acquisition by Prestige Value Brands from the Procter & Gamble Company of the rights in the Americas to the Joy Hand Dish Retail, Joy Hand Dish PGP and Cream Suds PGP businesses. Headquartered in Cincinnati, Ohio, Prestige Value Brands is a consumer focused operating platform with a strategic mission to deliver innovative solutions in the consumer staples market to value focused consumers. Prestige Value Brands is Capital Park's new operating platform formed for the purpose of acquiring consumer brands that sell into the middle tier of the consumer market and that have strong brand equity.
Eric Blue, Chairman and Chief Executive Officer of Capital Park, commented, "This transaction represents our investment in the middle market consumer and our fundamental belief that with R&D costs continuing to decline in and around the home care cleaning market, there is a strong value proposition centered around delivering competitively priced, consumer focused innovation to the middle tier consumer." Capital Park is pleased to welcome Prestige Value Brands to its family and looks forward to partnering with its management team to build a strong operating platform.
Beverly Grant, Chief Commercial Officer of Prestige Value Brands, added, "We are excited to partner with Capital Park and its experienced team of investment and operating professionals, and believe that the customers, suppliers and consumers associated with the Joy Brands will benefit from this acquisition. We believe Prestige Value Brands will be well positioned to accelerate growth and augment the geographic reach of the Joy Brands by leveraging the experience, capabilities, and support of the management team and Capital Park."
Locke Lord LLP acted as legal counsel to Capital Park.
About Capital Park Holdings Corp.
Capital Park Holdings Corp. is structured as a holding company with a business strategy focused on owning subsidiaries engaged in a number of diverse business activities. We seek to focus on acquiring operating businesses and securities that (a) can be purchased at a discount to intrinsic value, (b) are managed by competent and incentivized management teams, (c) offer reasonable downside protection and (d) directly contribute to the Company's strategic goals. Over time, we believe that a focus on these objectives should allow us to consistently deliver targeted investment returns. We will target investments into businesses that we believe (i) operate in industries with stable long-term operating profiles, (ii) present a stable unlevered free cash flow profile, (iii) have the ability to quickly adapt to changing economic cycles, and (iv) face minimal threats of technological or competitive obsolescence. For additional information about Capital Park Holdings Corp., please visit www.capitalpark.net.
About Prestige Value Brands
Prestige Value Brands is a consumer-focused operating platform with a strategic mission to deliver innovative solutions in the consumer staples market to consumers. For additional information about Prestige Value Brands, please visit www.prestigevaluebrands.com.
SOURCE Capital Park Holdings Corp.