Church & Dwight Co. Inc., the household-products company that sells Arm & Hammer baking soda and Nair hair remover, said today it plans to buy Colorado oral-care-products company Water Pik Inc. in a $1 billion deal.
Fort Collins-based Water Pik sells water-jet flossers and shower-massage heads under the Waterpik brand.
EG Capital and The Carlyle Group, which bought Water Pik in 2007, sold the company to an investor group led by New York private-equity firm MidOcean Partners in 2013. At the time, Microsoft co-founder Paul Allen was an investor.
Ewing, New Jersey-based Church & Dwight (NYSE: CHD) says it expects the purchase to close in the third quarter. It said it plans to finance the purchase with debt.
Read more at the Denver Business Journal: http://bit.ly/2tyXSBZ