Transactions in brief | Karo, Hypera, Perrigo

Transactions in brief | Karo, Hypera, Perrigo

6 April 2022 - Deborah Wilkes

  • Karo completes acquisition of E45 from Reckitt
  • Hypera completes deals with Sanofi and Eurofarma
  • Perrigo launches USD500 million private offering

Karo completes acquisition of E45 from Reckitt

Sweden’s Karo Pharma has completed the acquisition of the E45 skin health brand from Reckitt in a deal worth GBP200 million (USD260 million).

Karo said the acquisition boosted its presence within skin health, particularly in the UK, South Africa and Spain.

E45 generated sales of GBP43 million in 2021.

The acquisition was announced in December 2021 (click here to read the News story).

Commenting on Reckitt’s reasons for divesting E45, chief executive officer Laxman Narasimhan said it was “another step forward in Reckitt’s strategy to actively manage its portfolio for higher growth”. He pointed out that it followed the divestments of Reckitt’s IFCN business in China and the Scholl brand, as well as the acquisition of Biofreeze.

Hypera completes deals with Sanofi and Eurofarma

Brazil’s Hypera Pharma has completed the acquisition of a portfolio of OTC and prescription brands from Sanofi for USD190 million, and sold some of the products to Eurofarma Laboratorios for USD51.6 million.

Hypera announced in July 2021 that it was acquiring 12 brands from Sanofi – including the analgesic AAS and the herbal medicine Naturetti – in Brazil, Colombia and Mexico (click here to read the News story).

In November 2021, Hypera said it was divesting the products in Colombia and Mexico to fellow Brazilian company Eurofarma for USD51.6 million (click here to read the News story).

Commenting on the transactions, Hypera said they had reinforced its portfolio of prescription products and expanded its leadership in the OTC market in Brazil.

Perrigo launches USD500 million private offering

Perrigo has launched a USD500 million private offering that will partly fund its planned acquisition of French consumer healthcare company HRA Pharma.

The Ireland-based company said net proceeds from the private offering of senior notes due 2030 would also be used to “refinance certain existing indebtedness of the company and its subsidiaries, including its outstanding term loan facility, its 4.00% senior notes due 2023 and its 5.1045% guaranteed senior notes due 2023”.

Perrigo announced in September 2021 that it was acquiring HRA Pharma from Astorg and Goldman Sachs Asset Management for EUR1.8 billion (USD2.1 billion) in cash (click here to read the News story).

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Karo Pharma Reckitt Hypera Pharma Eurofarma Perrigo

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