$268 million! Reckitt sold its skin care brand E45
- Chaileedo Press
- Dec 28, 2021
- 1 min read
Reckitt sold its skincare brand E45 to Swedish pharmaceutical company that made prescription drug Karo Pharma for $268 million.
Reckitt recently announced it sold its skincare brand E45 to Swedish pharmaceutical company that made prescription drug Karo Pharma for $268 million.
Officials said Reckitt has reached an agreement on the proposed sale of its E45 and related sub-brands. The brands will have total net revenues of $57 million for the fiscal year as of Dec. 31, 2020. The proposed sale, if completed, would be another step in Reckitt's plan to aggressively manage its portfolio for higher growth following the recent divestiture of its IFCN business in China and its Scholl brand as well as the acquisition of Biofreeze.
The sale of E45 is expected to be completed in the second quarter of next year, subject to consultation with employee representatives in France.
Karo Pharma said the debt-financed purchase, which does not include any factories, would incorporate Reckitt providing service and manufacturing support to the Swedish group for a limited period.
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