We are delighted to have advised Haleon on its carve-out of Chapstick
Haleon UK Holdings Limited (‘Haleon’) was formed in 2022 as part of the demerger of GSK’s and Pfizer’s merged consumer healthcare business. As part of Haleon’s strategy to proactively manage its portfolio, it determined Chapstick was a non-core brand. ChapStick is a leader in lip care and synonymous with the product category – it is the #1 brand by volume and has over 80% brand awareness.
An agreement to divest the brand was signed with Suave Brands Company, a US-based consumer healthcare portfolio company of Yellow Wood Partners LLC, in December 2023, for a total pre-tax cash consideration of USD 430m, as well as a passive minority interest in the Suave Brands Company. The transaction completed on 31 May 2024.
Having successfully advised Haleon on the divestment of the Lamisil brand (completed 31 October 24), Grant Thornton was engaged by Haleon over a five-month period to support the planning and execution of the international separation of Chapstick. Grant Thornton worked closely with Haleon and Suave stakeholders, as well as other advisors supporting both parties.
