NEW YORK, September 6, 2022 – Proskauer, a leading international law firm, announced today that it advised Church & Dwight Co., Inc. (NYSE:CHD) in its agreement to acquire the Hero Mighty Patch® brand and other acne treatment products for $630 million, consisting of cash and Church & Dwight restricted stock. The transaction is expected to close in the fourth quarter, subject to customary closing conditions.
Mighty Patch® is the #2 brand in the acne category in the U.S. and the #1 patch brand in acne. The company’s products are currently only marketed in the U.S., and Church & Dwight expects to expand the products' limited distribution by leveraging Church & Dwight’s domestic retailer relationships and international footprint. Patches are the fastest-growing treatment form in acne and Hero’s annual net sales are projected to grow to $150 million in 2023.
The acquisition is the latest addition to Church & Dwight’s wide range of personal care, household and specialty products, which includes ARM & HAMMER®, TROJAN®, OXICLEAN®, SPINBRUSH®, FIRST RESPONSE®, NAIR®, ORAJEL®, XTRA®, L’IL CRITTERS®, VITAFUSION®, BATISTE®, WATERPIK®, ZICAM®, FLAWLESS® and THERABREATH®.
The Proskauer team advising Church & Dwight was led by partner Simon Sharpe (M&A) and associates Robert Chiu and Jonathan Girard and law clerk Vernon Wei Ting Lin (M&A); senior counsel John Ingrassia (Antitrust); partner Louis Rambo (Capital Markets); partner Andrea Rattner and associates Oleg Zakatov and Alexis Rosett (EBEC); senior counsel Aliza Cinamon (Environmental); partner Béatrice Pola and associates Wesley Shelton, Mathilde Pepin and Jonathan Gartner (Labor & Employment); partner Baldassare Vinti and associates Jennifer Yang, Anisha Shenai-Khatkhate and Nicole Swanson (Litigation & Advertising); managing partner Daryn Grossman, associates Jay Frankel, Peter Cramer and Bela Amladi (IP); partner Ryan P. Blaney and associate Vincent Tennant (Privacy & Cybersecurity); and partner Amanda Nussbaum and associate Tyler Moser (Tax).
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We are 800+ lawyers serving clients from 12 offices located in the leading financial and business centers in the Americas, Europe and Asia. The world’s leading organizations, companies and corporations choose us to be their representatives in their most critical situations. But more, they consider Proskauer a strategic partner to drive their business forward. We work with asset managers, major sports leagues, Fortune 500 companies, entertainment industry legends and other industry-redefining companies.
Proskauer has one of the premier global mergers and acquisitions practices. The Firm has advised on some of the most complex M&A transactions across a range of industries. Recent representations include representing the Patrick D. Bowlen Trust and related entities in the $4.65 billion sale of the Denver Broncos to the Walton-Penner family; advising long-time client Stamps.com in its $6.6 billion acquisition by leading software investment firm, Thoma Bravo; representing Accor in connection with its exclusive negotiations with Ennismore to form the world’s leading lifestyle operator in the hospitality sector; and counseling Grifols and its affiliate Biomat in a $1 billion investment by the Singaporean Sovereign Wealth Fund GIC.