Church & Dwight signed an agreement to acquire the assets of VI-COR, a manufacturer and seller of feed ingredients for dairy cows, beef cattle, poultry and other livestock, located in Mason City, Iowa. The VI-COR products are yeast-based feed ingredients for improving livestock digestive health and performance which complement our existing dairy nutrition business. This acquisition meets the Company's acquisition criteria: the respective brands are leaders in their categories, we believe the business has growth potential, and is expected to be gross margin accretive to the Company. Annual sales of these brands are approximately $25 million. The acquisition was financed with debt and is expected to be earnings neutral in 2014 and slightly accretive to earnings per share in 2015.
Church & Dwight Co., Inc. manufactures and markets a wide range of personal care, household and specialty products under the ARM & HAMMER brand name and other well-known trademarks.
This release contains forward-looking statements relating to, among other things, the impact of acquisitions; earnings per share; sales growth; and gross margin. These statements represent the intentions, plans, expectations and beliefs of the Company, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control and could cause actual results to differ materially from such forward-looking statements. The uncertainties include assumptions as to market growth and consumer demand (including the effect of political and economic events on consumer demand), the economy, raw material and energy prices, the financial condition of major customers and suppliers, interest rate and foreign currency exchange rate fluctuations, and changes in marketing and promotional spending. Other factors that could materially affect actual results include the outcome of contingencies, including litigation, regulatory proceedings and environmental matters. For a description of additional factors that could cause actual results to differ materially from the forward looking statements, please see the Company’s quarterly and annual reports filed with the SEC, including information in the Company’s annual report on Form 10-K in Item 1A, “Risk Factors”.