Church & Dwight Co. Inc. has signed an agreement to acquire the assets of Varied Industries Corporation (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 the company’s existing dairy nutrition business.
This acquisition meets the company's acquisition criteria:
- The respective brands are leaders in their categories.
- The business has growth potential.
- It 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. PD
—From Church & Dwight Co. Inc. news release