Company purchases Touchland for a whopping $880 million dollars.
Hangin' with the Hand Sanitizer Hype:
On Monday, Church & Dwight revealed their plan to add Touchland, the vibrant hand sanitizer brand, to their squad, dropping a cool $880 million on the deal.
The deal's breakdown? A whopping $700 million in cold hard cash and Church & Dwight stock, with an extra $180 million sprinkled in for Touchland tearing up their net sales targets. That's according to the official press release.
The two companies are aiming to seal the deal in the second quarter. Exciting times, eh?
The Lowdown:
Founded in 2018 by Andrea Lisbona and Ruggero Grammatico, Touchland rocketed to fame with their kaleidoscopic hand sanitizers. By 2021, they were worth a cool $11.5 million.
These days, Touchland ranks as the No. 2 hand sanitizer brand, according to the announcement. They've not only diversified their scents but have expanded into a full line of body and hair fragrance mists.From January 2022 to March 2023, their net sales clocked in at around $130 million.
Touchland's got a strong U.S. and Canadian fanbase, but they're not confining themselves to their home turf. They've recently crashed the party in the Middle East through a partnership with Sephora.
Church & Dwight's CEO, Rick Dierker, put it simply, "Touchland has a rabid fanbase thanks to its standout consumer proposition, tornado-like growth, and clever marketing."
On a call with investors, Dierker pointed to Touchland's packaging and easy-to-use on-the-go design as major factors in their success. "It's not just a product, it's a brand," he said.
So, what's the plan for Touchland now that they're Church & Dwight's newest bae? Well, expect to see this bad boy go global.
According to Dierker, the goal is to make Touchland a staple in every consumer's paws, especially in their current and new international markets. And they'll be banking on Church & Dwight's fancy tech tools and marketing chops to get them there.
Andrea Lisbona, Touchland's founder and CEO, shared Dierker's enthusiasm. "I'm stoked to partner with Church & Dwight to turbocharge Touchland's growth and get it in consumers' hands worldwide. Our brand's story is far from over, baby!"
Sources:
- *Church & Dwight acquires Touchland for $880 million*
- *Touchland*
- In the midst of this market shift, Church & Dwight has seized an opportunity in the global finance landscape by acquiring Touchland, the vibrant hand sanitizer brand, in a $880 million deal, showcasing their strategic business move.
- This acquisition not only bolsters Church & Dwight's presence in the personal care industry but also signifies a potential step towards international market expansion, as they aim to make Touchland a ubiquitous brand worldwide.
- The AI-driven business strategists foresee an increase in Church & Dwight's competitive advantage in the consumer goods market, given Touchland's success in modern marketing tactics and rapid growth in the hand sanitizer market.
