Other brands owned by Church & Dwight include the hair-removal cream Nair, the cleaning material OxiClean, First Response pregnancy tests, and the laundry detergent Xtra.Ī new report from the short-seller Spruce Point Capital is targeting Church & Dwight, the maker of Trojan condoms.Ĭhurch & Dwight, which also owns Arm & Hammer baking soda, Nair hair-removal cream, and the pregnancy-test kit First Response, has been active in mergers and acquisitions since CEO Matthew Farrell took over in 2016.Īcquisitions include a $1 billion deal for the flossing technology Waterpik in 2017 - and Spruce Point called that a 'significant' overpay.The $270 million short-seller flagged the company's reliance on brick-and-mortar stores and declining sales in old and new brands, and said that it had paid too much for recent acquisitions.Spruce Point has a short position in Church & Dwight and benefits if the shares fall. Spruce Point Capital issued a report saying it believes the stock price of Church & Dwight, the maker of Trojan condoms, Arm & Hammer baking soda, and several other consumer brands, is overvalued.

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