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NEW YORK — Colgate-Palmolive Co. has agreed to acquire Hello Products LLC, a portfolio company of Tenth Avenue Holdings, a New York City based private, diversified holding company.
Hello’s products, which include adult and children’s toothpaste, mouth rinse, toothbrushes and floss, are sold in the United States primarily in food, drug and mass retailers and through e-commerce.
The transaction will be financed with a combination of cash and debt and is currently expected to close in February. Hello will continue to be led by founder Craig Dubitsky and Lauri Kien Kotcher, chief executive officer.
Noel Wallace, Colgate’s president and CEO, said, “We are excited to welcome Hello to the Colgate family and are especially pleased that Craig and Lauri will continue in their leadership roles. We have great respect for the Hello team and their impressive product line, and value the strong connection they have made with younger consumers. With its distinct on-trend positioning, Hello is a terrific complement to our Colgate and Tom’s of Maine brands, and we look forward to supporting its continued growth and success.”
Dubitsky said, “Colgate is the ideal partner for Hello with a like-minded commitment to the best consumer oral health, the environment and our communities.” Kotcher, added, “Seeing how they have helped other companies grow and thrive in their portfolio, we are even more excited to join forces.”
