Summary
This 8-K filing from Church & Dwight Co., Inc. (CHD) details two significant transactions that occurred on September 28, 2001. The company made a $111.8 million cash contribution to acquire a 50% equity interest in Armkel, LLC, a new joint venture with affiliates of Kelso and Company, L.P. Armkel, in turn, acquired the consumer products business of Carter Wallace, Inc. This includes the antiperspirant and pet-care businesses, which Church & Dwight then acquired from Armkel for $128.5 million in cash, intending to integrate them into its existing product lines. Both acquisitions were financed through borrowings under a new credit facility established on the same date. Investors should note that the filing indicates that detailed financial statements and pro forma information for these acquisitions will be provided in a subsequent filing within 60 days. This report primarily focuses on the transaction structure, the entities involved, and the purchase prices.
Key Highlights
- 1Church & Dwight acquired a 50% equity interest in Armkel, LLC for $111.8 million cash.
- 2Armkel, a joint venture with Kelso and Company affiliates, acquired the consumer products business of Carter Wallace, Inc.
- 3Church & Dwight subsequently acquired the antiperspirant and pet-care businesses from Armkel for $128.5 million cash.
- 4The acquired businesses are intended to be added to Church & Dwight's existing consumer product lines.
- 5Financing for these transactions was secured through borrowings under a new credit facility dated September 28, 2001.
- 6Detailed financial statements and pro forma information for the acquisitions will be filed within 60 days.
- 7Key transaction agreements, including the LLC Agreement and Product Line Purchase Agreement, are listed as exhibits.