Colgate-Palmolive will acquire Hello Products, an oral care brand focused on a “naturally friendly” lifestyle that appeals to younger consumers across broad segments, the companies report.
Hello’s products, which include adult and kids toothpaste, mouth rinse, toothbrushes, and floss, are sold only in the United States primarily in food, drug, and mass retailers and through e-commerce.
The transaction will be financed with a combination of cash and debt and is expected to close no later than February 2020. Hello will continue to be led by founder Craig Dubitsky and chief executive officer Lauri Kien Kotcher.
“We have great respect for the Hello team and their impressive product line and value the strong connection they have made with younger consumers,” said Noel Wallace, Colgate’s president and CEO.
“With its distinct on-trend positioning, Hello is a terrific complement to our Colgate and Tom’s of Maine brands, and we look forward to supporting its continued growth and success,” said Wallace.
“Colgate is the ideal partner for Hello with a like-minded commitment to the best consumer oral health, the environment, and our communities,” said Dubitsky.
“Seeing how they have helped other companies grow and thrive in their portfolio, we are even more excited to join forces,” said Kien Kotcher.
Including transaction costs, the acquisition is expected to be flat to a penny dilutive to 2020 diluted earnings per share. The terms of the deal have not been disclosed.
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