16th Jul 2007 09:04
16 July 2007 Sale Of Hermal
Reckitt Benckiser plc announces the conclusion of its strategic review of the Hermal prescription skincare business, announced on 15th January 2007.
Reckitt Benckiser has agreed to sell Hermal to Laboratorios Almirall S.A., the Spanish based international pharmaceutical company, for a consideration of ‚£255 million in cash.
Hermal was acquired as part of the Boots Healthcare International (BHI) business in January 2006. Hermal net revenues were ‚£58m and operating profit was ‚£14m in 2006, representing approximately 1% of the net revenues and profits of Reckitt Benckiser plc.
The disposal is subject to regulatory clearance in Germany and is expected to complete during Q3 2007.
Reckitt Benckiser believes that the interests of the Hermal business and its employees will be best served under the more appropriate ownership of an international pharmaceutical company.
The Company has been advised by Goldman Sachs.
For Further Information
Tom Corran Reckitt Benckiser +44 (0) 1753 217800
Senior Vice President, Investor Relations & Corporate Communications
Fiona Fong Reckitt Benckiser +44 (0) 1753 217800
Head of Corporate Communications
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