Church & Dwight Co., Inc.: Another One, Not Like the Other Ones

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Church & Dwight Co., Inc.: Another One, Not Like the Other Ones

Equity Research

U.S. CHPC & Beverages

29 May 2026

Church & Dwight Co., Inc.

Another One, Not Like the Other

Ones

In contrast to its recent deals, CHD is now an incumbent CHD UNDERWEIGHT

acquiring a high growth disruptor brand in an existing U.S. CHPC & Beverages NEUTRAL

category. Price Target USD 79.00

Price (28-May-26) USD 97.63

Potential Upside/Downside -19.1%

Source: Bloomberg, Barclays Research

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Earlier today, Church & Dwight announced its acquisition of Miss Mouth's Messy Eater, a

disruptor brand in the stain removal category, for $325 mm. While we can't say the same for all Heather Gornik, CFA

of its recent acquisitions, we think Miss Mouth’s strategic fit in Church & Dwight’s portfolio is +1 212 526 9237

heather.gornik@barclays.comstraightforward – that is, a cleaner label, disruptor brand challenging the status quo in a

category in which the company already competes (through Oxi Clean). The complementary

nature of this deal frankly strikes us as breaking from the more typical pattern of targets that

extend Church & Dwight into entirely new white space (e.g. Touchland, Hero, Therabreath – just

to name a few from the last several years).

Seamless integration, with long retail runway and a brand that caters to today's consumer

preferences. Given Church & Dwight’s existing presence in laundry care, we’d expect this brand