Former Inc. 500 Firm Acquired for $325 Million
Orange Glo, the former Inc. 500 company behind OxiClean, Kaboom and other household cleaning products, will be acquired by Church & Dwight for $325 million, the companies announced on Monday.
Church & Dwight, which is based Princeton, N.J., and makes the Arm & Hammer line of products, said it expected to close the deal in the third quarter.
The company called OxiClean, a multipurpose stain remover, a leader in the growing pre-wash laundry market, accounting for two-thirds of Orange Glo's $200 million in sales last year.
The purchase "brings to our company a franchise that has developed great consumer loyalty," Church & Dwight CEO James Craigie said in a statement.
Orange Glo, founded in 1987 and based in Greenwood Village, Colo., ranked No. 38 on the 2003 Inc. 500 list of the nation's fastest-growing private companies, posting $352 million in revenue in 2002.
"We are happy to become part of Church & Dwight, which has a 160-year history of marketing one of America's most-trusted brands," David Appel, the company's chairman, said in a statement.