TIDMRB.
RNS Number : 1107Q
Reckitt Benckiser Group PLC
24 February 2021
RB Announces the Acquisition of Biofreeze
24 February 2021 - Slough, UK - Reckitt Benckiser Group plc
("RB") is pleased to announce that it has entered into a definitive
agreement to acquire the Biofreeze brand from Performance Health, a
company owned by Madison Dearborn Partners.
In the US, Biofreeze is the number one clinically recommended
topical pain relief brand, and has delivered robust double-digit
sales growth.
The acquisition represents a unique and exciting opportunity to
unlock value through RB's expertise, global operating footprint and
infrastructure. Biofreeze is a perfect fit with RB's Health
platform and deepens RB's presence within the broader pain
category.
Laxman Narasimhan, Chief Executive Officer of RB, said:
"Biofreeze has a strong strategic and synergistic fit with RB's
brand portfolio. We see compelling opportunities to develop the
topical pain relief category globally with Biofreeze and other RB
pain management brands including Nurofen, Moov and Tempra. The
brand taps into the growing global trend for wellness and self-care
and aligns with our strategy to build our US Health footprint into
new spaces and places."
Francis X. Dirksmeier, Chief Executive Officer of Performance
Health, said:
"There isn't a better fit for Biofreeze than RB. The acquisition
is based on growth and building value. As a global fast-moving
consumer goods company with a leading portfolio of health, hygiene
and nutrition brands, RB will be able to expand the brand's
terrific track record of growth as part of a global consumer
products leader. Performance Health will be able to focus on our
meaningful work to serve clinical and sports providers and patients
through rehabilitation and recovery solutions."
The transaction is subject to certain regulatory approvals as
well as other customary closing conditions and completion is
currently expected in Q2 2021.
For further information, please contact:
RB
John Dawson +44 (0)7408 809474
SVP, Investor Relations
Patty O'Hayer +44 (0)7825 755688
Director, External Relations and Government Affairs
Finsbury Glover Hering +44 (0)7768 943171
Faeth Birch
About Biofreeze
Biofreeze is a leader in over-the-counter topical pain relief
with gel, roll-on, spray, cream and patch formats. With 30 years of
usage and proven results, the brand has a strong footprint in North
America retail and clinical channels with an emerging e-commerce
and international presence. The brand is the number one clinically
recommended topical pain reliever and is trusted by pharmacists,
chiropractors, physical therapists, athletic trainers, athletes,
and consumers.
The acquisition also includes the TheraPearl brand, a leader in
premium hot and cold therapy with a strong footprint in North
America.
About RB
RB is driven by its purpose to protect, heal and nurture in a
relentless pursuit of a cleaner, healthier world. We fight to make
access to the highest-quality hygiene, wellness and nourishment a
right, not a privilege, for everyone. RB is proud to have a stable
of trusted household brands found in households in more than 190
countries. These include Enfamil, Nutramigen, Nurofen, Strepsils,
Gaviscon, Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet,
Harpic, Cillit Bang, Mortein, Finish, Vanish, Calgon, Woolite, Air
Wick and more. 20 million RB products a day are bought by consumers
globally. RB's passion to put consumers and people first, to seek
out new opportunities, to strive for excellence in all that we do,
and to build shared success with all our partners, while doing the
right thing, always is what guides the work of our 40,000+ diverse
and talented colleagues worldwide. For more information visit
www.rb.com
RB is the trading name of the Reckitt Benckiser group of
companies.
Further Information
Centerview Partners UK LLP ("Centerview") acted as exclusive
financial adviser to RB on the transaction.
Centerview which is regulated in the United Kingdom by the
Financial Conduct Authority, is acting as financial adviser
exclusively for RB and no one else in connection with the matters
set out in this announcement and will not regard any other person
as its client in relation to the matters in this announcement and
will not be responsible to anyone other than RB for providing the
protections afforded to clients of Centerview nor for providing
advice in relation to any matter referred to herein.
Reckitt Benckiser Group plc's LEI code is
5493003JFSMOJG48V108
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END
ACQUOUARARUUUUR
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February 24, 2021 02:16 ET (07:16 GMT)
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