Reckitt Benckiser to Acquire Biofreeze Brand From Performance Health

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 [e-mail]

(END) Dow Jones Newswires

February 24, 2021 02:34 ET (07:34 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.