Helen of Troy Locating in Olive Branch
Olive Branch, Miss. (January 8, 2013) – Governor Phil Bryant and officials from Helen of Troy (NASDAQ, NM: HELE) announced today the company is constructing a 1.3-million-square-foot distribution facility in Olive Branch, Mississippi, in DeSoto County. The project represents a company investment of $37 million and will create more than 300 new jobs. Helen of Troy is a designer, developer and worldwide marketer of brand-name household, personal care and health care/home environment consumer products.
The facility, the company’s second in the state, is expected to be complete by December 2013. Helen of Troy also operates a 1.2-million-square-foot distribution facility in Southaven, Mississippi.
“I am grateful to Helen of Troy for expanding its presence in Mississippi by constructing this new distribution facility. The company’s investment and the jobs it will create will have a significant impact on both the DeSoto County economy and the state as a whole,” Governor Phil Bryant said. “I thank the company for its continued investment in its Mississippi operations and the trust it has placed in our dedicated and productive workforce. The announcement of this new facility is proof that Mississippi’s pro-business climate works.”
“We are very excited to start this project and are looking forward to the day when we can move into this new distribution center. With the addition of this new 1.3-million-square-foot distribution center, Helen of Troy will have a total of 2.5-million square feet of owned and operated distribution capacity in DeSoto County, Mississippi,” said Helen of Troy Chairman, Chief Executive Officer and President Gerald J. Rubin. “This is a significant commitment for Helen of Troy, and we will continue to benefit from the skilled workforce, logistics infrastructure and geographic attractiveness of DeSoto County.”
The Mississippi Development Authority provided assistance for site preparation and relocation needs related to the project through the Mississippi Industry Incentive Financing Revolving Fund. The agency also provided assistance for infrastructure improvements through the Development Infrastructure Program, as well as job training assistance. The City of Olive Branch and DeSoto County also provided assistance in support of the project.
“Helen of Troy’s business operations have grown in recent years, and we expect our businesses to continue to grow, both organically and through acquisitions, in the future. With interest rates at record lows, it is a great time to make this type of investment in the future of Helen of Troy,” said Rubin. “In addition, local agencies and governments, including the Mississippi Development Authority, the State of Mississippi, DeSoto County and the City of Olive Branch, provided us with incentives to enhance the attractiveness of the proposition.”
“It is always exciting to see one of our existing businesses strengthen its roots in Mississippi, and I am proud MDA was able to provide assistance for Helen of Troy’s new distribution facility,” said MDA Executive Director Brent Christensen. “I thank the mayor and the board of aldermen in Olive Branch and the DeSoto County Board of Supervisors for working with us to make this project possible.”
Helen of Troy Limited is a leading global consumer products company offering creative solutions for its customers through a strong portfolio of well-recognized and widely trusted brands, including: Housewares: OXO®, OXO Good Grips®, OXO Soft Works®, OXO Tot® and OXO Steel®; Personal Care: Revlon®, Vidal Sassoon®, Dr. Scholl’s®, Pro Beauty Tools®, Sure®, Pert Plus®, Infusium23®, Brut®, Ammens®, Hot Tools®, Bed Head®, Karina®, Ogilvie® and Gold ‘N Hot®; and Health Care/Home Environment: Vicks®, Braun®, Honeywell®, PUR®, Febreze®, Stinger®, Duracraft® and SoftHeat®. The Revlon® trademark is used under license from Revlon. The Vidal Sassoon®, Vicks®, Braun® and Febreze® trademarks are used under license from The Procter & Gamble Company. The Dr. Scholl’s® trademark is used under license from Merck. The Honeywell® trademark is used under license from Honeywell. The Bed Head® trademark is used under license from Unilever.
To learn more about Helen of Troy visit www.hotus.com.