Church & Dwight Co. Inc. has completed its purchase of oral care device manufacturer Water Pik Inc., the consumer products company said in a statement Aug. 8.
The deal, which Church & Dwight financed with roughly $1 billion in cash, expands the Ewing, N.J.-based company's offering of dental care tools.
Church & Dwight originally announced its plan to buy Water Pik from private equity firm MidOcean Partners LP on July 17. In its statement, the consumer products firm said it completed the deal "substantially under the original terms" announced in July.
The Fort Collins, Colo.-based company is known for its flossing tools, many of which use water jets. In its statement, Church & Dwight CEO Matthew Farrell said Water Pik has "a strong reputation among dental care professionals."
"The flosser products business is a fast-growing platform" for several reasons, including an increasing incidence of gum disease and emerging middle-class markets in developing countries, Farrell said.