Church & Dwight has signed a definitive agreement to acquire the Flawless and Finishing Touch brands from Ideavillage Products Corporation for US$475 million, plus an additional earn out payment of US$425 million. The transaction is subject to regulatory approval and expected to close in the second quarter of the year.
Flawless racked up US$180 million in net sales for the year-ended December 31, 2018. It is the number one electric hair removal brand in the US, focused on the facial hair segment, and is marketed in more than 30 countries worldwide with international markets accounting for 10 percent of sales.
“Women today are more focused on hair removal from their bodies. Flawless provides simple, fast, dermatologist-approved solutions for face, brows and legs. Flawless is a beloved brand by look-conscious consumers who want to be ‘selfie-ready’ at any moment,” said Matthew T Farrell, Church & Dwight Chief Executive Officer. “Flawless represents a powerful addition to our specialty hair care portfolio which includes Batiste dry shampoo, Viviscal hair thinning supplements, and Toppik hair fibers.”
Andy Khubani, Founder and CEO of Ideavillage, added, “We have found the perfect partner for our Flawless brand, and for accomplishing our vision of expanding into new categories and markets. Our cultures complement one another beautifully and I’m very excited and confident in the future.”