03.28.19
Church & Dwight Co., Inc. signed a definitive agreement with Ideavillage Products Corporation to acquire the Flawless and Finishing Touch brands of hair removal products, a market leader in women’s electric hair removal products, for approximately $475 million in cash plus an additional earn-out payment of up to a maximum of $425 million, in cash, based on a 12-month net sales target ending no later than Dec. 31, 2021.
The transaction, which is subject to regulatory approval and other customary conditions, is expected to close in the second quarter of 2019.
Flawless net sales for the trailing twelve months ended Dec. 31, 2018 were approximately $180 million with EBITDA approximating $55 million (approximately 30% EBITDA margin) over the same period. The products are marketed in the US and over 30 countries. Approximately 10% of net sales come from international markets.
Ideavillage is located in Wayne, NJ and will support the business through a separate long-term services agreement with Church & Dwight.
The transaction, which is subject to regulatory approval and other customary conditions, is expected to close in the second quarter of 2019.
Flawless net sales for the trailing twelve months ended Dec. 31, 2018 were approximately $180 million with EBITDA approximating $55 million (approximately 30% EBITDA margin) over the same period. The products are marketed in the US and over 30 countries. Approximately 10% of net sales come from international markets.
Ideavillage is located in Wayne, NJ and will support the business through a separate long-term services agreement with Church & Dwight.