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Church & Dwight Builds Beauty Portfolio With $475 Million Hair Removal Deal

Church & Dwight Co. has signed a $475 million deal to buy the Flawless and Finishing Touch hair-removal brands.
The business makes hair-removal devices that target women looking to remove body and facial hair, and are sold in the mass drug channel, as well as on Amazon and at Ulta Beauty. The business did about $180 million in sales for 2018, with earnings before interest, taxes, depreciation and amortization of $55 million.
Flawless and Finishing tool products are mostly sold in the U.S., but are sold in 30 different countries. About 10 percent of the company’s sales are from international markets. The deal includes an additional earn-out of up to $425 million, which could bring the purchase price up to $900 million. The brands are being sold by Ideavillage, which will continue to support the brands through a long-term services agreement with Church & Dwight.
For Church & Dwight, the acquisition helps to build the company’s beauty portfolio, which also includes Batiste dry shampoo, Viviscal hair supplements and Toppik hair fibers. The company said Flawless marks its 12th “power brand” — meaning it meets growth, profit, manufacturing and competitive advantage criteria. BofA Merrill Lynch advised Church & Dwight on the deal.
The women’s hair removal

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Via:: https://wwd.com/beauty-industry-news/beauty-features/church-dwight-builds-beauty-portfolio-with-475-million-hair-removal-deal-1203094646/