Deals
Haleon to Sell ChapStick to Suave Brands for $510 Million
- Consumer-health company will use cash to pay down debt
- Haleon also gets a stake in Suave worth around $80 million
ChapStick lip balm products.
Source: ChapStickThis article is for subscribers only.
Haleon Plc agreed to sell its ChapStick lip balms to Suave Brands in a deal valued at around $510 million to streamline its portfolio.
The consumer-health company will receive about $430 million in cash from the sale, it said in a statement Thursday. It will also get a minority stake in Suave, owned by the private equity firm Yellow Wood Partners, worth around $80 million as part of the deal.