Karo Healthcare completes the acquisition of the rights to the Global OTC brand Lamisil® from Haleon
Karo Healthcare (‘Karo’) has today completed the previously announced 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). All the necessary conditions for the completion of this transaction have been fully met.
Lamisil is a leading brand for the treatment of fungal infections like Athlete’s foot1, and with a net sales of EUR 65m in 2022 the brand significantly strengthens our position in the Foot Health category.
“We are proud to welcome Lamisil to our Karo family and look forward to developing this trusted brand in dialogue with consumers and in collaboration with customers and business partners. The acquisition marks an important milestone in Karo's development and growth strategy and not only boosts Karo's presence in major European markets but also extends our footprint and geographical reach into new exciting markets.”, says Christoffer Lorenzen, CEO.
HKCF Corporate Finance, White & Case and Alvarez & Marsal have acted as external advisors to Karo in relation to the transaction and integration support.
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 Lamisil®, 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 07:00 CET on 1 November 2023.
[1] Euromonitor Global Market Data. Read the full product information here: Lamisil AT 1% Cream, Lamisil AT 1% Gel, Lamisil AT 1% Spray, Lamisil Once