The deal is also set to bring in $425m as additional earn-out payment
US manufacturing company Church & Dwight has acquired hair removal brand Flawless in a US$475m deal.
The acquisition will also generate approximately $425m, in cash, as an additional earn-out payment.
Today, Church & Dwight’s roster of personal care brands includes Batiste, Nair, Arm & Hammer and Orajel.
Commenting on the new deal, Matthew Farrell, Church & Dwight’s CEO said: “Flawless represents a powerful addition to our speciality hair care portfolio.”
Meanwhile, Andy Khubani, founder and CEO of Ideavillage Products Corporation, which currently manufactures Flawless products, said: “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 [for] the future.”
The transaction is still subject to regulatory approval and other customary conditions but is expected to be finalised in the second quarter of 2019.