Church & Dwight closes $650M deal for Avid Health
Church & Dwight completes acquisition of gummy vitamin maker Avid Health in $650M deal
PRINCETON, N.J. (AP) -- Church & Dwight said Monday that it completed its acquisition of Avid Health Inc., which makes gummy types of vitamins and supplements, for $650 million in cash.
Church & Dwight Co. Inc. makes Arm & Hammer baking soda, Aim toothpaste and other products. It said the addition of Avid expands its product lineup into the fast-growing gummy vitamin business. It financed the deal with a combination of cash and debt.
The Princeton, N.J.-based company said it still expects the acquisition to lower its 2012 net income by about 2 cents per share, and boost its adjusted earnings and cash flow in 2013.
Church & Dwight shares rose 19 cents to $54.18 in afternoon trading.
