04:54 PM EST, 12/16/2024 (MT Newswires) -- Helen of Troy (HELE) completed its acquisition of nail care company Olive & June.

The $240 million acquisition was announced Nov. 21.

Helen of Troy said Monday it borrowed $235 million on a revolving basis under its credit agreement in connection with the closing of the deal.

Proceeds of the loan were used to pay an initial cash consideration of $229.4 million, net of cash acquired, which includes an estimated working capital adjustment and excludes a contingent cash consideration of up to $15 million subject to performance in three years, Helen of Troy said.

Helen of Troy said as of Monday, inclusive of debt for the acquisition, it swapped $550 million, or 56% of its floating rate debt, to an average fixed SOFR rate of 3.9% through February 2026.