Reckitt Benckiser to Acquire Biofreeze Brand From Performance Health
February 24 2021 - 2:49AM
Dow Jones News
By Anthony O. Goriainoff
Reckitt Benckiser Group PLC said on Wednesday that it has
entered into a definitive agreement with Performance Health--a
company owned by Madison Dearborn Partners--to acquire the
Biofreeze brand for an undisclosed amount.
The consumer-goods company, which houses Dettol, Harpic and
Durex among its brands, said the acquisition of the pain-relief
brand represented an opportunity to unlock value through Reckitt's
infrastructure, expertise, and global operating footprint.
The London-listed company said the transaction was a perfect fit
with the company's health platform and deepened its presence within
the broader pain category.
Reckitt Benckiser said the transaction was subject to certain
regulatory approvals and that completion was currently expected in
the second quarter of the year.
"The brand taps into the growing global trend for wellness and
self-care and aligns with our strategy to build our U.S. health
footprint into new spaces and places," Chief Executive Laxman
Narasimhan said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
February 24, 2021 02:34 ET (07:34 GMT)
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