Karo Healthcare acquires the Global OTC brand Lamisil® from Haleon

Karo Healthcare (‘Karo’) announces the acquisition of the rights to the Global OTC brand Lamisil® from Haleon UK Holdings Ltd. (‘Haleon’) for a total consideration of GBP 235m (EUR 274m) (‘Transaction’).

The Transaction transfers ownership of Haleon's topical Lamisil business, which had net sales of EUR 65m in 2022, to Karo. The acquisition scales up Karo’s operations in major European markets as well as expands its presence in markets beyond the current geographical reach.

Lamisil is a leading brand for the treatment of fungal infections like Athlete’s foot and is trusted by consumers worldwide[1]. The acquisition strengthens and scales Karo’s position in one of its core categories, Foot Health, which includes brands such as Pevaryl and Nailner. The Foot Health category will benefit from Lamisil’s strong brand equity and reach and will surpass EUR 100m in revenue. Lamisil will become Karo’s single biggest brand and will leverage Karo’s successful trajectory of acquiring and further developing and growing excellent, differentiated consumer health brands.

“We are pleased to add the global well-known and trusted brand, Lamisil, to our portfolio.” says Christoffer Lorenzen, CEO of Karo. “This transaction not only expands our geographical presence but also strengthens our position in the Foot Health category. We are excited about the growth opportunities the acquisition presents and view it as a natural next step for Karo.” Christoffer concludes.

The acquisition has been executed as an asset deal, excluding personnel and manufacturing sites. This approach mitigates commercial risks and ensures a smooth integration process, where Karo will leverage our existing infrastructure and make use of established partners. The Transaction is expected to close in Q4 2023. HKCF Corporate Finance and White & Case acted as advisors to Karo in relation to the Transaction.

For further information, please contact:

Christoffer Lorenzen, CEO, +46 735 017 620, christoffer.lorenzen@karo.com

Michael Kaltenborn, CSDO, +49 171 681 0314, michael.kaltenborn@karo.com

About Karo Healthcare

Karo Healthcare is a leading European consumer healthcare company with the purpose of delivering "Smart choices for everyday healthcare", empowering people to live life to the fullest. Our products are available in more than 90 countries and include trusted original brands such as E45®, Pevaryl®, Proct®, AlphaFoods, Nutravita, Flux®, Locobase®, Multi-Gyn® and Paracet®. Headquartered in Stockholm, Karo employs more than 400 people that work out of 10 European hubs. Karo Healthcare has been an EQT portfolio company since 2019.

The information was submitted for publication by the contact persons set out above, at 08:00 CET on 2 Aug, 2023.

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