Church & Dwight has reached a mutual agreement with private equity group Kelso & Company in which Church & Dwight will not participate in the acquisition of Del Laboratories with Kelso. As a result of the agreement, Kelso will continue the acquisition on its own, company executives said. Church & Dwight had previously planned to invest $30 million (about 20% of the equity financing) and would have an option to acquire Del’s Orajel oral care line after three years....