Church & Dwight closes $650M deal for Avid Health

PRINCETON, N.J. (AP) -- Church & Dwight said Monday that it completed its acquisition of Avid Health Inc., which makes gummy types of vitamins and supplements, for $650 million in cash.

Church & Dwight Co. Inc. makes Arm & Hammer baking soda, Aim toothpaste and other products. It said the addition of Avid expands its product lineup into the fast-growing gummy vitamin business. It financed the deal with a combination of cash and debt.

The Princeton, N.J.-based company said it still expects the acquisition to lower its 2012 net income by about 2 cents per share, and boost its adjusted earnings and cash flow in 2013.

Church & Dwight shares rose 19 cents to $54.18 in afternoon trading.

Source: http://news.yahoo.com/church-dwight-closes-650m-deal-193849110.html

night at the museum pope shenouda bolton muamba crystal cathedral sxsw st. patrick s day brandon lloyd