A&O advising Reckitt on the proposed sale of E45

The proposed sale is subject to the satisfaction of customary closing conditions, including consultation with employee representatives in France. Subject to the satisfaction of those conditions, the proposed sale of the E45 business is expected to close in the second quarter of 2022.

Reckitt is a multinational consumer goods company based in the UK and Karo is a Swedish-based speciality pharmaceutical company. The E45 brand is over 60 years old and has become a global leader in science-based skincare products.

The Reckitt legal team on the transaction comprised Senior Legal Counsel Nikki Shah and Senior Legal Counsel Henry Andreae, led by SVP Legal (Health) Sapna Dutta. The A&O team was led by partner Matthew Appleton, Head of A&O’s Healthcare Transactions Team, and counsel Gareth Irving, with commercial/IP senior associate Alexandra Wyles and M&A associate Laura Milward-Lynch. Specialist advice was provided by tax partner Lydia Challen with senior associate Sorsha Reilly and antitrust partner Alasdair Balfour with senior associate Laura Harvey.

Commenting on the transaction, A&O partner Matthew Appleton said: “We are particularly pleased to have helped our client Reckitt on this transaction which is another step forward in its strategy to actively manage its portfolio for higher growth. The transaction is another example of A&O working with clients to deliver complex and strategically important deals.”