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Reckitt Benckiser Group PLC said on Wednesday it had reached 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 represents an opportunity to unlock value through infrastructure, expertise and Reckitt’s global operational footprint.
The London-listed company said the deal is a perfect fit for the company’s healthcare platform and has strengthened its presence in the broader pain category.
Reckitt Benckiser said the transaction is subject to certain regulatory approvals and that completion is currently expected in the second quarter of the year.
“The brand taps into the growing global trend for wellness and personal care and aligns with our strategy to expand our health footprint in the United States into new spaces and places,” said Managing Director Laxman Narasimhan .
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