Church & Dwight, the maker of Arm & Hammer toothpaste and Trojan condoms, said on Monday it’ll buy privately held Water Pik Inc. for approximately $1 billion in cash.
Fort Collins, Colo.-based Water Pik makes items within the oral well being house including flossers and electrical toothbrushes, in addition as shower heads. Its namesake product, the Water Pik Water Flosser, cleans tooth through the use of a pump to send a water jet via a plastic tip.
Water Pik, which had net gross sales of about $265 million in the year ended June 30, will likely be bought from private equity company MidOcean Companions, Church & Dwight stated.
Church & Dwight’s oral care portfolio contains Spinbrush battery-operated toothbrushes and Orajel oral analgesics.
Church & Dwight mentioned it anticipated an adjusted benefit of $2.09 in line with share in 2018 and reaffirmed its benefit forecast for 2017.
BofA Merrill Lynch was once the monetary adviser for Church & Dwight, at the same time as Harris Williams and Wells Fargo recommended MidOcean Companions.