EWING, N.J. — Church & Dwight Co. announced it has signed a definitive agreement to acquire Water Pik Inc. for approximately $1 billion in cash. The transaction, which is subject to regulatory approval and other customary conditions, is expected to close in the third quarter.

Waterpik’s net sales for the trailing 12 months through June 30 were approximately $265 million. Waterpik is the No. 1 water flosser brand and the No. 1 replacement showerhead brand in the U.S. Approximately 70% of net sales are in the water flosser segment, with the remainder in showerheads. The international business represents approximately 20% of sales. The products are marketed in the U.S. and Canada and exported to over 80 countries.

“Oral care is important to us strategically,” said Church & Dwight chief executive officer Matthew Farrell. “Waterpik represents a powerful addition to our existing oral care portfolio, which includes Arm & Hammer toothpaste, Spin Brush battery-operated toothbrushes and Orajel oral analgesics. The flosser products business is a fast-growing platform and capitalizes on the trends of increased gum disease, oral care awareness across all demographics and expansion of the middle-class in emerging markets. The Waterpik brand has a strong reputation among dental care professionals. Our oral care portfolio gives Church & Dwight a leading position in a growing category with tailwinds as the population ages and consumer interest in oral health continues to expand,” he explained.

“We are excited to enter the replacement showerhead business. Water conservation is a growing trend. Waterpik’s showerhead technology contributes to efforts globally to conserve water while providing consumers a refreshing shower,” he added.