Davis Polk is advising Reckitt Benckiser Group plc in connection with its acquisition of the Biofreeze and TheraPearl brands from Performance Health, a company owned by Madison Dearborn Partners. The transaction is subject to certain regulatory approvals as well as other customary closing conditions and is expected to be completed in the second quarter of 2021. Financial terms of the transaction were not disclosed.
Biofreeze is a leader in over-the-counter topical pain relief with gel, roll-on, spray, cream and patch formats. With 30 years of usage and proven results, the brand has a strong footprint in North America retail and clinical channels with an emerging e-commerce and international presence. RB, owner of Mead Johnson Nutrition, maker of Nurofen and Scholl products, has a stable of trusted household brands found in households in more than 190 countries. Performance Health is a leader in consumer healthcare and the largest global manufacturer and distributor of products to the rehabilitation and sports medicine markets. Madison Dearborn is a leading private equity investment firm based in Chicago.
The Davis Polk corporate team includes partner Daniel Brass and associates Nicholas R. Yamagata and Michael Gilson. The tax team includes partner Michael Mollerus. Partner Frank J. Azzopardi and associates Samantha Lefland and Jesse L. Hallock are providing intellectual property advice. The antitrust and competition team includes partner Howard Shelanski and counsel Matthew Yeowart. Partner Kyoko Takahashi Lin is providing executive compensation advice. Members of the Davis Polk team are based in the New York, Washington DC and London offices.