10.01.01
Church & Dwight Co., Inc. today said that it has completed the previously announced acquisition of Carter-Wallace's consumer products business in a partnership with the private equity group, Kelso & Company, for a total purchase price of $739 million.
As part of this transaction, Church & Dwight purchased Carter-Wallace's antiperspirant and pet care businesses outright for $128.5 million; and Armkel LLC, a 50/50 joint venture with Kelso, acquired the remainder of Carter-Wallace's domestic and international consumer products businesses for an additional $610.5 million.
The acquired businesses, with reported annual sales of approximately $550 million, include such well-known brands as Arrid antiperspirants, Trojan condoms, Nair depilatories, First Response pregnancy test kits and Lambert Kay pet care products.
"We are very pleased to be adding strength to our personal care product line, bringing it to the same level as our household products business," said Robert A. Davies, III, chairman and Chief Executive Officer of Church & Dwight. "The completion of this acquisition will give Church & Dwight combined annual sales of more than $1.5 billion on a pro forma basis including Armkel. Based on our preliminary estimates, we expect the newly acquired businesses to contribute to earnings in their first full year of operations."
As part of this transaction, Church & Dwight purchased Carter-Wallace's antiperspirant and pet care businesses outright for $128.5 million; and Armkel LLC, a 50/50 joint venture with Kelso, acquired the remainder of Carter-Wallace's domestic and international consumer products businesses for an additional $610.5 million.
The acquired businesses, with reported annual sales of approximately $550 million, include such well-known brands as Arrid antiperspirants, Trojan condoms, Nair depilatories, First Response pregnancy test kits and Lambert Kay pet care products.
"We are very pleased to be adding strength to our personal care product line, bringing it to the same level as our household products business," said Robert A. Davies, III, chairman and Chief Executive Officer of Church & Dwight. "The completion of this acquisition will give Church & Dwight combined annual sales of more than $1.5 billion on a pro forma basis including Armkel. Based on our preliminary estimates, we expect the newly acquired businesses to contribute to earnings in their first full year of operations."