$10 million Dental account review prediction
Steve’s breakdown: Water Pik was just bought by Church & Dwight and they do not have an agency working on the business. Jump on this one fast. Try Director of Marketing Mr. Craig Fitzgerald at firstname.lastname@example.org.
EWING, NJ & FORT COLLINS, CO: Arm & Hammer toothpaste maker Church & Dwight Co Inc (CHD.N) said on Monday it would buy privately held Water Pik Inc, which makes oral hygiene products and shower heads, for about $1 billion in cash.
Fort Collins, Colorado-based Water Pik makes items in the oral health space including flossers and electric toothbrushes. Its namesake product, the Water Pik Water Flosser, cleans teeth by using a pump to send a water jet through a plastic tip.
Water Pik, which had net sales of about $265 million in the year ended June 30, will be bought from private equity firm MidOcean Partners, Church & Dwight said.
Church & Dwight’s oral care portfolio includes Spinbrush battery-operated toothbrushes and Orajel oral analgesics.
Church & Dwight, which also makes Trojan condom, said it expected an adjusted profit of $2.09 per share in 2018 and reaffirmed its profit forecast for 2017.
BofA Merrill Lynch was the financial adviser for Church & Dwight, while Harris Williams and Wells Fargo advised MidOcean Partners.