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00:03Clorox said it agreed to acquire Puroll maker Gojo Industries in an all-cash deal valued at
00:08$2.25 billion, funded with debt, according to The Wall Street Journal. After tax benefits of
00:15about $330 million, Clorox said the net purchase price is about $1.92 billion.
00:21The company said the deal expands its presence in health and hygiene and supports the growth
00:25of the Puroll brand, while Gojo's business-to-business reach is expected to support Clorox's
00:30professional business. Gojo has nearly $800 million in annual sales, with average sales
00:36growth of 5% over the past three years and more than 80% of revenue from business-to-business
00:41distributors. Clorox said it expects at least $50 million in cost savings, plans to close
00:48the deal by the end of June, and expects the acquisition to be accretive to adjusted earnings
00:53per share in the second year. For all things money, visit Benzinga.com.
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