Church & Dwight to buy Fort Collins-based Water Pik for $1 billion
EWING, N.J. — Church & Dwight Co. Inc., the parent company of Arm & Hammer, announced on Monday it is acquiring Fort Collins-based Water Pik Inc. for $1 billion in cash.
The company, which manufactures Waterpik brand showerheads and water flossers, will keep its Fort Collins facility, according to a statement released by Church & Dwight.
Water Pik’s leadership is expected to join Church & Dwight, according to Church & Dwight’s chief executive, Matthew Farrell.
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“This business has a highly capable management team, and we are pleased to welcome them to the Church & Dwight family,” Farrell said in the prepared statement. “Water Pik is nimble and asset light and should be an excellent fit.”
On Monday, Water Pik’s president and CEO, Richard Bisson, declined to comment on the transaction.
The deal is expected to close in the third quarter of this year, in early September.
Water Pik ‘s net sales for the 12 months ending June 30 was about $265 million, making it both the No. 1 water flosser brand and the No. 1 replacement showerhead brand in the United States. They are marketed in the United States and Canada and exported to more than 80 countries. About 70 percent of its sales are from its water flossers with the remainder in showerheads.
Waterpik won’t be the first oral health brand in Church & Dwight’s portfolio, which includes Arm & Hammer toothpaste, Spinbrush battery-operated toothbrushes and Oraljel analgesics.
“The flosser products business is a fast-growing platform and capitalizes on the trends of increased gum disease, oral-care awareness across all demographics and expansion of the middle-class in emerging markets,” Farrell said. “The Waterpik brand has a strong reputation among dental-care professionals. Our oral care portfolio gives Church & Dwight a leading position in a growing category with tailwinds as the population ages and consumer interest in oral health continues to expand.”
Waterpik will be Church & Dwight’s 11th “power brand,” Farrell said. “The acquisition is consistent with our strategy of acquiring No. 1 or No. 2 brands in areas with growth potential.” He said Water Pik has a history of innovation. “The science behind water-flossing and water conservation is strong, and Water Pik has an expertise in water-jet technology.”
