Sales: $2.5 billion for household, personal care and oral care products. Corporate sales: $3.4 billion.
Key Personnel: Matthew T. Farrell, president and chief executive officer; Rick Dierker, executive vice president and chief financial officer; Patrick de Maynadier, executive vice president, general counsel and secretary; Steven P. Cugine, executive vice president, international and GNPI; Louis H. Tursi Jr., executive vice president, North American sales; Britta Bomhard, executive vice president, chief marketing officer; Mark G. Conish, executive vice president, global operations; Paul A. Siracusa, Ph.D., executive vice president, global R&D; Jim Levine, global human resources.
Major Products: Arm & Hammer and Xtra laundry detergent; OxiClean, Scrub Free, Kaboom and Orange Glo household cleaners; Nair depilatories; Oragel oral analgesics; Closeup and Aim toothpaste.
New Products: Arm & Hammer—Ultra Max Dry Spray for men, Truly Radiant Clean & Fresh and Bright & Strong oral care collections, dual chamber unit dose laundry detergent; OxiClean—dual chamber unit dose laundry detergent. Toppik hair building fibers (acquisition).
Comments: Corporate sales rose nearly 3% last year, driven by a 3.1% volume increase, a 2.0% boost from acquisitions and a 0.5% gain from price increases. Those improvements were partially offset (-2.7%) by FX factors. The company was quick to note that the highly competitive US laundry business is getting even more competitive as P&G entered the low-priced portion of the business and Henkel rolled out Persil in the US. Matthew Farrell became president and CEO on Jan. 1, 2016, replacing James Craigie who continues to serve as non-executive chairman and a member of the board.
Also in January, Church & Dwight paid $175 million to acquire Spencer Forest, the maker of Toppik, a hair building system. The line includes “hair-building” fibers, volumizing spray, 3-in-1 renewal shampoo and colored hair thickener. With sales of $30 million, it would seem that C&D paid a top shelf price for Toppik, but the company said the move fits its acquisition criteria: the acquired brand is a leader in a growing category and is expected to be gross margin accretive. The acquisition is helping in other ways too. Farrell noted that just 1-3% of C&D’s sales currently are online, but the company is learning new things from Toppik, which generates 33% of its sales off e-commerce platforms. Church & Dwight notes that it has made 10 acquisitions in the past dozen years and that it acquired nine of its 10 power brands.
For the first quarter ended March 31, 2016, net sales increased 4.5% to $849.0 million. Organic sales rose 5.2% driven by volume growth of 5.6%, and partially offset by 0.4% from unfavorable product mix and pricing.
Finally, when spring hits the US, it must be time for new speculation of Church & Dwight getting acquired. The rumors moved fast and furious around the internet; so fast, in fact, that C&D brass made the unusual move of releasing a statement that the company was definitely not for sale.