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Clorox announces agreement to acquire Nutranext

Mar. 12, 2018 6:40 AM ETThe Clorox Company (CLX) StockBy: Niloofer Shaikh, SA News Editor7 Comments
  • The Clorox Company (NYSE:CLX) entered into a definitive agreement to acquire Nutranext for $700M.
  • The company expects to fund the transaction through a combination of available cash and debt financing, while maintaining a Debt/EBITDA ratio within its target range of 2.0x to 2.5x.
  • The transaction is expected to close in FQ4 (ends June 30).
  • "Adding Nutranext to our portfolio is consistent with our strategy to accelerate growth through acquisitions of leading brands in fast-growing categories with attractive gross margins and a focus on health and wellness," said Clorox Chairman and CEO Benno Dorer. "We're looking forward to leveraging our proven capabilities in brand building, including innovation and digital marketing, as well as strong partnerships in retail and e-commerce to accelerate growth of Nutranext brands."
  • The company preliminary estimates the acquisition will impact dilute earnings per share by 7-11 cents in FQ4, and by 8-12 cents in FY19 and be accretive to earnings per share in FY20.
  • Press Release

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