LONDON (ShareCast) - (Sharecast News) - Consumer goods company Reckitt Benckiser has entered into an agreement for the proposed sale of the E45 brand and related sub-brands to Karo Pharma for an implied enterprise value of £200.0m.
Reckitt Benckiser said on Friday that the proposed sale marked "another step forward" in its plan to actively manage its portfolio for higher growth, following the recent divestments of IFCN in China and the Scholl brand, as well as the acquisition of Biofreeze.

The FTSE 100-listed firm added that the sale was subject to the satisfaction of customary closing conditions, including consultation with employee representatives in France, and was expected to close in the second quarter of 2022.

Chief executive Laxman Narasimhan said: "E45 is an iconic, trusted skincare brand that over 60 years has become a leader in science-based skincare. As we shift from a brand-led to a category-led growth strategy, we are focusing on high growth categories with brands we can stretch into new places and spaces to support our medium-term growth ambitions, including 4-6% growth in Health.

"Now is the right time to pass E45 on to a new owner, and we are confident that Karo will build on the strength of the E45 brand to capture the significant opportunities ahead."

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