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PRINCETON, N.J. — Church & Dwight Co. plans to acquire Avid Health Inc., maker of the Vitafusion and L’il Critters gummy vitamins and supplements, for $650 million in cash.
The deal, pending regulatory approval and other customary conditions, is slated to close early in the fourth quarter, Church & Dwight said late Monday.
According to the company, Vitafusion and L’il Critters were the No. 1 adult and children’s gummy vitamin brands, respectively. Avid’s net sales for the trailing 12 months through June 30 were about $230 million. Its manufacturing facilities are in Vancouver, Wash.
"The acquisition of Avid’s gummy vitamins business represents a great addition to our existing portfolio and brings to our company a new growth platform in one of the fastest-growing segments of the attractive vitamin/mineral/supplement category," stated Church & Dwight chairman and chief executive officer James Craigie. "It is also consistent with our strategy of strengthening our business by adding No. 1 or No. 2 brands in areas of high growth potential."
Church & Dwight’s roster of personal care, household and specialty product brands includes such names as Arm & Hammer, Nair, Orajel, Xtra, Trojan, First Response, OxiClean, Spinbrush, Aim, Close-Up, Simply Saline, Arrid, Mentadent and Pepsodent.
