Prestige Consumer Healthcare is one of the largest over-the-counter healthcare providers in the United States. We expect the company to grow through product innovation, increasing household penetration and expanding its e-commerce presence. One of the ways Prestige has approached product innovation is by expanding the end markets of its brands; for example, Dramamine has long only played in the motion sickness space, but Prestige has spent the last few years expanding its indication to the nausea market. While these category breakups can certainly expose Prestige to new competition, we believe they also give the company a new customer base that it can capture. And given Prestige’s focus on small and niche categories, we don’t expect the company to try to compete with the successful brands of consumer packaged goods, or CPG, giants. Rather, we believe it will seek out adjacent categories that may be underpenetrated or composed of minor brands to replace with its recognizable brands.