Haleon exploring $600M sale of ChapStick brand
- Kimberly Chin, author of Axios Pro: Retail Deals
Illustration: Aïda Amer/Axios
Haleon is exploring a sale of its ChapStick lip balm business, which could fetch about $600 million, Bloomberg reports, citing people familiar.
Why it matters: Just a few months after spinning out of pharmaceutical giant GSK last year, Haleon is already thinking strategically about ways to bolster its business.
Driving the news: The consumer health company is reportedly working with advisers on a potential sale.
The big picture: As it sheds ChapStick, the company may also be eyeing large potential deals to bulk up its brand portfolio, though it is still in the early stages, Bloomberg reported in January.
- A roll-up with Sanofi’s $30 billion consumer-health operations could also be on the table, according to the report.
Context: Centrum, Emergen-C, Tums and Advil are brands that are still under Haleon.
Haleon representatives couldn’t immediately be reached for comment.