Church and Dwight completes Avid Health takeover

Church and Dwight has confirmed the completion of its previously announced takeover of Avid Health.

The acquisition of the organisation has been valued at $650 million (404.25 million pounds) and is consistent with Church and Dwight's strategy of purchasing leading brands in areas of high growth potential.

Avid Health is a prominent manufacturer of gummy vitamins and supplements and offers major brands such as the adult-oriented Vitafusion range and the youth-focused L'il Critters products.

The firm generated $230 million in net sales during the 12 months ending on June 30th 2012, meaning its acquisition will bring numerous benefits to Church and Dwight.

James Craigie, chairman and chief executive officer of Church and Dwight, said the buyout "represents a great addition to our existing portfolio and brings to our company a new growth platform in one of the fastest-growing segments of the attractive vitamin/mineral/supplement category".

This deal complements the business's efforts to deliver shareholder returns of between ten and 12 percent annually from 2013 onwards.