Colgate inks agreement to buy premium U.S. oral care brand Hello
Category: #business  By Saipriya Iyer  Date: 2020-01-25
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Colgate inks agreement to buy premium U.S. oral care brand Hello
  • Financing of the transaction will be a combination of both debt and cash
  • There has been no announcement of the terms of the deal under the acquisition

Colgate-Palmolive Company, a multinational consumer product firm, recently confirmed that it will be acquiring Hello Products LLC, Tenth Avenue Holdings’ portfolio firm and a premium oral care company in the United States.

For the record, Hello holds a strong appeal among all the younger consumers as well as across broad segments. The company’s products range from mouth rinse, floss, toothbrushes and kids & adult toothpaste that is sold only in the United States mostly in drug, food and mass retailers and via e-commerce.

Apparently, the transaction is being financed with a combination of both debt and cash and it shall come to a close by February 2020. Lauri Kien Kotcher, Chief Executive Officer and Craig Dubitsky, the founder, shall continue to head Hello.

CEO and President of Colgate, Noel Wallace said that the company is looking forward to welcoming Hello. Colgate looks up to Hello’s impressive product line and the strong connection it has built with its younger consumers. Hello has a particular on-trend positioning which will prove to be an excellent complement to Colgate’s brands.

Mr. Dubitsky, founder of Hello stated that Colgate is an ideal of the company that has a similar commitment to the environment, communities and the best consumer oral health. While CEO of Hello, Ms. Kotcher further added that the company is looking forward to joining with Colgate after seeing how the firm has helped all the portfolio companies grow and thrive.

According to reliable sources, the acquisition shall be dilutive to 2020’s diluted earnings for every share. There has been no announcement regarding the terms of the deal under the acquisition. Colgate-Palmolive had Lipton, Watchtell and Rosen & Katz to act as legal advisors for the transaction, while Hello Products had Zukerman Gore Brandeis and Crossman as its legal advisors. 

 

Source Credit- https://markets.businessinsider.com/news/stocks/colgate-announces-agreement-to-acquire-hello-oral-care-brand-1028841443

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About Author

Saipriya Iyer

Saipriya Iyer    

Saipriya Iyer currently works as a content developer for GroundAlerts. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had previous experience of 3 years under her belt, she has dabbled with website ...

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