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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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.