Britain’s Haleon mentioned it had agreed to promote lip balm model ChapStick to an organization owned by personal fairness agency Yellow Wooden Companions for round $430 million in money and a stake valued at round $80 million within the purchaser.
Haleon CEO Brian McNamara mentioned that whereas ChapStick was an awesome model a lot liked by shoppers all over the world it was not a core focus for the corporate.
“Promoting the model permits us to simplify our enterprise and pay down debt extra shortly,” he mentioned on Thursday.
ChapStick generated £112 million ($142.5 million) in income in 2023, mentioned Haleon, the previous client well being division of drug developer GSK.
By Paul Sandle; enhancing by James Davey
Be taught extra:
Lip Gloss Is Beauty’s Secret to Sales and Sex
Recalling the attraction of Lip Smackers balms and Lancôme’s Juicy Tubes, skincare manufacturers like Rhode, Summer season Fridays and UBeauty have the lip class cornered.
Thank you for being a valued member of the Nirantara family! We appreciate your continued support and trust in our apps.
-
Nirantara Social - Stay connected with friends and loved ones. Download now:
Nirantara Social
-
Nirantara News - Get the latest news and updates on the go. Install the Nirantara News app:
Nirantara News
-
Nirantara Fashion - Discover the latest fashion trends and styles. Get the Nirantara Fashion app:
Nirantara Fashion
-
Nirantara TechBuzz - Stay up-to-date with the latest technology trends and news. Install the Nirantara TechBuzz app:
Nirantara Fashion
-
InfiniteTravelDeals24 - Find incredible travel deals and discounts. Install the InfiniteTravelDeals24 app:
InfiniteTravelDeals24
If you haven't already, we encourage you to download and experience these fantastic apps. Stay connected, informed, stylish, and explore amazing travel offers with the Nirantara family!
Source link
