Chief executive officer Matthew Farrell commented, “We are pleased with our organic sales growth. In the domestic business, market share gains and volume growth reflect the investments made in the quarter. Our targeted investment spending translated into significant share growth with 6 out of 10 power brands exceeding or meeting category growth. We continue to invest in our growing international business. In particular, we are establishing a new subsidiary in Germany in the third quarter. We have delivered strong first half results and are on track to achieve our full year revenue and earnings goals.”
In July 2017, the company signed a definitive agreement to acquire Water Pik, Inc., the market leader in water-jet technology in both oral water flossers and replacement showerheads, for approximately $1 billion in cash. The transaction is expected to close in the third quarter.