Prestige Consumer Healthcare has signed an agreement to acquire a portfolio of consumer health brands from privately held Foundation Consumer Healthcare for $1.045 billion. The deal includes the well-known Breathe Right nasal strip brand along with other consumer healthcare products.

The acquisition represents a significant expansion for Prestige Consumer Healthcare as it continues to build its portfolio of over-the-counter health and wellness brands. Breathe Right nasal strips have been a recognizable product in the nasal congestion relief market for years.

Foundation Consumer Healthcare, the seller in this transaction, is a privately held company that has maintained ownership of these consumer brands. The specific terms of the deal and expected closing date were not immediately detailed in the announcement.

The transaction comes as consumer healthcare companies continue to consolidate and expand their product offerings in the competitive over-the-counter medication and wellness market. Prestige Consumer Healthcare will gain access to established brand recognition and distribution channels through this acquisition.