C&D Powers Into Acne Market Acquiring Hero Cosmetics, Maker Of Top-Selling Mighty Patch
Church & Dwight agrees to buy Hero Cosmetics, maker of acne and skin care patches and topical products, for $630m, adding leading US acne patch brand to its “power brand” lineup. Mighty Patch is among more-than 30 products Hero manufactures and markets.
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Lowers full-year forecast for reported sales growth to 4% to 5% from an earlier estimate of 5% to 8% despite improving to 89% on meeting demand during the April-June period from 80% during Q1.
Church & Dwight anticipates 15% growth for TheraBreath mouthwash brand in 2022 on larger sizes and wider distribution, especially outside US. It plans to acquire the firm for around $580m cash and close the deal before end of year
The Personal Care Products Council is engaging on state legislation for extended producer responsibility programs, which impose the cost of recycling plastic materials on manufacturers. Emerging bills to prohibit use of the ‘chasing arrows’ recycling symbol on consumer packaging also have the trade group’s attention.