Church & Dwight, the maker of Arm & Hammer toothpaste and Trojan condoms, said on Monday it will buy privately held Water Pik Inc. for about $1 billion in cash.
Fort Collins, Colo.-based Water Pik makes items in the oral health space including flossers and electric toothbrushes, as well as shower heads. 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 said it expected an adjusted profit of $2.09 per share in 2018 and reaffirmed its profit forecast for 2017.
Photo Credit: WaterPik