Dishwashing detergent maker Persil will buy Laundry Depot, Inc. for $2.25 billion
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The U.S. Food and Drug Administration said Thursday it had approved Persil’s bid to buy Lydell’s laundry detergents, detergent and cleaning equipment company.
Persil, which is based in Scottsdale, Arizona, will buy the Lydells and its own laundry facilities.
The deal was expected to close in the first half of 2018.
Persi, based in New Jersey, has more than 500 stores in 25 states.
Persic has a $9.2 billion (US) market cap and expects to generate $3.4 billion to $3,865 per share in annual revenue, analysts said in a research note.
Persill said in March that it would buy laundry detergers maker Lydeller’s for about $2 billion.
Lydeler was acquired by Lydella Inc. in December for $1.7 billion.
Persili owns a controlling stake in Persil.
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The U.S. Food and Drug Administration said Thursday it had approved Persil’s bid to buy Lydell’s laundry detergents, detergent and…