Church & Dwight Finalizes Purchase of Del Pharmaceuticals

Church & Dwight (C&D; Princeton, NJ) says it has completed its previously announced acquisition of over-the-counter drug producer Del Pharmaceuticals (Uniondale, NY) from Coty (New York) for $380 million. C&D says the purchase price was financed with a $250-million addition to the company’s bank credit facility and available cash. The acquisition is not expected to be accretive to earnings until 2009, mainly due to one-time integration costs, says C&D chairman and CEO James Craigie. The deal is expected to result in cost savings of more than...

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