Linda Lindner//March 28, 2019//
Linda Lindner//March 28, 2019//
Church & Dwight Co. announced Thursday a deal to buy the Flawless and Finishing Touch hair removal products brands from Ideavillage Products Corp. in a deal valued at up to $900 million.
Under terms of the deal, Church & Dwight will pay $475 million in cash, and an additional “earn-out” payment of up to $425 million based on 12-month net sales targets.
The transaction, which is subject to regulatory approval and other customary conditions, is expected to close in the second quarter of 2019.
“Women today are more focused on hair removal from their bodies. Flawless provides simple, fast, dermatologist-approved solutions for face, brows and legs,” said Matthew Farrell, Church & Dwight chief executive officer.
“Flawless represents a powerful addition to our specialty haircare portfolio which includes Batiste dry shampoo, Viviscal hair thinning supplements, and Toppik hair fibers.”
Based in Ewing, Church & Dwight Co. is a major manufacturer of household products including its best-known, the Arm & Hammer line, which includes baking soda and a variety of products made with it.
Ideavillage is located in Wayne, and will support the Flawless business through a separate long-term services agreement with Church & Dwight.