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Church & Dwight (CHD Quote) definitively agreed to buy Procter & Gamble's (PG Quote) battery-powered SpinBrush toothbrush business for $75 million in cash.
Princeton, N.J.-based Chruch & Dwight said the deal also calls for an inventory settlement amount following the business transfer and additional cash payments of up to $30 million based on near-term performance. The transaction is expected to be completed in the fourth quarter.
Sales of the business for the year ended June 30 were $110 million, over 80% of which were in the in the U.S. and Canada. ...
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