Banking Recap

M&A Transaction Announced

Church & Dwight Co., Inc. announced on December 9, 2025 that, following the conclusion of its strategic review of its vitamin, minerals and supplement (VMS) business, it had entered into a definitive agreement to sell the VitaFusion and L'il Critters brands to Piping Rock Health Products, Inc. The agreement includes the VitaFusion and L'il Critters brands, relevant trademarks and licenses, and manufacturing and distribution facilities in Vancouver and Ridgefield, Washington. The release states the VMS brands represent less than 5% of Church & Dwight's anticipated 2025 net sales.

Dec 9, 2025·SEC EDGAR (8-K)·pending regulatory·divestiture (brand/business sale)

This record is sourced from an Exhibit 99.1 press release furnished with Church & Dwight's Form 8-K filed December 9, 2025. At announcement, the deal was a signed definitive agreement pending customary closing conditions, with closing expected before year-end 2025.

Perella Weinberg served as sole financial advisor to Church & Dwight on the divestiture, per the release's statement that "Perella Weinberg acted as financial advisor to Church & Dwight and Proskauer Rose LLP acted as legal advisor." No financial advisor to Piping Rock is named in this release, and no lead designation applies since Perella Weinberg was the only financial advisor disclosed.

On the legal side, Proskauer Rose LLP represented Church & Dwight, while Freshfields LLP represented Piping Rock as its legal advisor.

Church & Dwight disclosed that, as a result of the transaction, it expects to incur a one-time after-tax charge of $40 million to $45 million in the fourth quarter of 2025, covering a non-cash impairment, transition costs and transaction costs, net of proceeds; CEO Rick Dierker characterized the move as sharpening focus on the company's remaining "power brands."

Not disclosed in the sourced document is the purchase price or any valuation multiple for the VMS business sale, nor any valuation basis (enterprise or equity); the filing also does not name Piping Rock's financial advisor, if any.