Rick Dierker: Yes. And I would just add, Anna that both of those brands have a lot of runway left on TDPs. Even if you look at THERABREATH for example, it’s maybe third or fourth in the segment on TDPs. And the next step change maybe is another competitor that has 1,100. So there’s still room to run.
Matt Farrell: Yes. I mean, the velocity and the sales that we have would suggest that we should have far more shelf space than we have today.
Anna Lizzul: Thank you. And just any concern, I guess, from some of the larger brands that have been innovating in this space with some similar offerings that already have some distribution well established? Just any concern from that?
Matt Farrell: Yes. Are you referring to the acne category?
Anna Lizzul: Yes, both in the acne category and in the mouthwash category?
Matt Farrell: Well, look, we welcome competition. As far as patches go, the advantage MIGHTY PATCH has is number one, it was first and number two, its patch is more efficacious than other patches. So I think that is what’s going to make the difference going forward. Yes. And as far as THERABREATH goes, THERABREATH’s got a different formula than other mouth washes, even in the mouth washes in non-alcohol. So no, I would say, we feel advantage with respect to our offering. Not just our formulas, but also our packaging and our go-to market strategy and our use of social media.
Anna Lizzul: Great. Thanks very much.
Operator: Your next question comes from Bill Chappell from Truist Securities. Please go ahead.
Bill Chappell: Thanks. Good morning,
Matt Farrell: Hey Bill.
Bill Chappell: Hey just a little bit more on sodium bicarbonate. Just I don’t remember, maybe you said what the percentage that is in terms of cost goods sold, but also – because I always enjoy the discussion on animal husbandry. I thought the key part of the Specialty Ingredients business was feeding sodium bicarbonate to cows to produce more milk. So why would that business not be passing out pretty meaningful price increases as well and driving sales?
Matt Farrell: Yes. Sodium bicarbonate is not a big part of the animal business within SPD. As far as the – we got into the animal business about 50 years ago when we learned that that we were selling super sacks of baking soda to big bakers and they were selling out the back door to some dairies, and they were sort of used putting in the feed was sort of like Alka-Seltzer for cows. That then got us into other nutritional products, prebiotics, probiotics over time. So the story with respect to soda ash and sodium bicarbonate is largely on the consumer side of the business. Now, especially product business, two-thirds is animal, one-third is bulk sodium bicarbonate. And there you would see that we have been raising price. But this is just a – it’s a $100 million business, so it’s not a real needle move for us, Bill, when we raise price in bulk sodium bicarbonate.
Bill Chappell: Got it. So it’s not enough to drive sales.
Matt Farrell: Yes. On the consumer side it’s a – it’s a much bigger deal. We don’t typically quote what percentage of our COGS is sodium bicarbonate or baking soda. But remember, we use baking soda in a lot of different products. It’s in toothpaste, its underarm deodorant; it’s in cat litter, laundry detergent, yes, it’s – we use it quite a bit, so it doesn’t matter.
Bill Chappell: Okay. And then second, and I might have missed a but, I mean, in terms of the strength of your results in the past couple quarters, you would leaned on or not leaned on, indicated that consumer trade down was driving it. I mean, is that still a big driver? I mean, it seems like it is more just the strength of the brands and the categories and or is it really you’re continuing to see a nervous consumer?
