PR Newswire

ROCHESTER, N.Y., May 22 /PRNewswire/ -- Bausch & Lomb (NYSE: BOL) has completed the $135 million cash sale of its successful skin-care business to The Andrew Jergens Company, a leading U.S. manufacturer and marketer of moisturizing, cleansing, and facial skin-care products. Bausch & Lomb will record an after-tax gain on the divestiture in the approximate range of $35 million, or approximately $.63 a share, in the second quarter. Additional details of the transaction are not being disclosed.

With the purchase of Bausch & Lomb's skin-care business, Andrew Jergens is adding Curel(R), a line of therapeutic skin-moisturizing products, and Soft Sense(R) moisturizing lotion to its well established skin-care portfolio.

Based in Cincinnati, Andrew Jergens is a wholly owned subsidiary of Kao Corporation of Japan. Kao is a diversified multinational corporation that develops, manufactures and markets innovative consumer products in categories such as personal care, household cleaning, food and disposable diapers, as well as industrial, chemical and information products.

Bausch & Lomb Incorporated is a global eye care company dedicated to helping consumers see, look and feel better through innovative technology and design. Its core businesses include soft and rigid gas permeable contact lenses, lens care products, premium sunglasses, ophthalmic surgical and pharmaceutical products. The company is advantaged with some of the most respected brands in the world starting with its name, Bausch & Lomb(R), and including Ray-Ban(R), Arnette(TM), SofLens66(TM), Boston(R), Killer Loop(R), ReNu(R), Revo and Storz(R). Founded in 1853 in Rochester, N.Y., where it continues to have its headquarters, the company has annual revenues of approximately $2.5 billion and employs more than 15,000 people in 35 countries. Bausch & Lomb products are available in more than 100 countries around the world.