AKRON, Ohio — The Clorox Company has agreed to acquire GOJO Industries, the Akron-based maker of Purell hand sanitizer, in a $2.25 billion cash deal that will bring the family-owned hygiene company into Clorox’s growing health and wellness portfolio.
In a release sent out on Thursday, Clorox announced it had signed a definitive agreement to purchase GOJO for $2.25 billion — including anticipated tax benefits valued at about $330 million — for a net purchase price of $1.92 billion. The deal adds the Purell brand — the top-selling hand sanitizer in both business-to-business and retail markets — to Clorox’s lineup of household and institutional products.
GOJO, founded in 1946 in Akron by Goldie and Jerry Lippman, generates nearly $800 million in annual sales and has posted mid-single-digit growth in recent years, the company said. More than 80% of its revenue comes through a network of business customers supported by roughly 20 million soap and sanitizer dispensers that drive recurring demand…