Reckitt Benckiser to acquire Biofreeze pain relief brand from Performance Health
Reckitt Benckiser Group (RB) has agreed to acquire the Biofreeze topical pain relief brand from Madison Dearborn Partners subsidiary Performance Health for an undisclosed price.
Biofreeze is said to be among the popular brands for topical pain relief brand and had generated double-digit sales growth.
Francis X. Dirksmeier – CEO of Performance Health said: “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.”
Reckitt Benckiser said that the deal presents it an opportunity to unlock value of the Biofreeze topical pain relief brand by leveraging its expertise, global operating presence and infrastructure.
Furthermore, the British consumer goods company said that Biofreeze is a perfect fit with its health platform and that it deepens its footprint within the broader pain segment.
Laxman Narasimhan – CEO of Reckitt Benckiser 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.”
The deal, which is subject to regulatory approvals and other customary closing conditions, is expected to close in Q2 2021.