Church & Dwight Co., Inc. (NYSE: CHD), a producer of sodium bicarbonate and provider of brand names including Arm & Hammer, has acquired TheraBreath brand for $580 million in cash.

TheraBreath is a top brand in the alcohol-free mouthwash category and in the last 12 months had net sales totaling to $86 million. C&D intends to leverage its distribution network, manufacturing footprint and operating expertise to achieve $6 million in run rate operating synergies by 2023.

“TheraBreath represents a powerful addition to our existing oral care portfolio which includes Arm & Hammer toothpaste, Spinbrush battery-operated toothbrushes, Orajel oral analgesics and Waterpik water flossers,” added Matthew Farrell, C&D, CEO. “This acquisition gives Church and Dwight a strong position in a growing category with tailwinds as the brand skews towards younger consumers and consistently has a high level of brand loyalty and repeat purchase.”

Centerview Partners LLC acted as financial advisor to Church & Dwight and Proskauer Rose LLP acted as legal advisor. The seller was advised by Financo Raymond James as exclusive financial advisor and Sidley Austin LLP as legal advisor.