Ewing-based personal care products company Church & Dwight Co. Inc. has completed its $530 million acquisition of Matrixx Initiatives Inc., owner of the Zicam zinc supplement brand, it announced Tuesday.
Church & Dwight purchased Matrixx in a stock deal, funding the transaction with a combination of cash and debt.
“The acquisition of Zicam represents a superb addition to our existing portfolio and brings to our company the leading brand within zinc supplements, one of the fastest-growing subsegments of the (vitamins, minerals and supplements) category,” Church & Dwight Chairman and CEO Matthew Farrell said in a prepared statement. “This acquisition meets the company’s longstanding acquisition criteria. … We are excited about adding the company’s 13th power brand.”
Zicam’s annual net sales are projected to be $90 million in 2021, with earnings before interest, taxes, depreciation and amortization of $36 million, Church & Dwight said.
“Acquisitions have been a key driver of Church & Dwight’s consistently strong shareholder returns,” Farrell said.