Church & Dwight Co. Inc. announced that it has completed its previously announced acquisition of the Del OTC pharmaceutical business from Coty Inc. The transaction was completed substantially under the original terms announced on April 1, 2008, which called for Church & Dwight to pay Us$380 million in cash at closing.
The purchase price was financed with a US$250 million addition to its bank credit facility and available cash. The Oragel brand will now become part of the company, strengthening its oral care portfolio. According to the company, the acquisition is expected to have a neutral impact on 2008 earnings per share due primarily to one-time integration costs and the step-up of inventory.