EQT to sell Karo Healthcare, a Leading Pan-European Consumer health Platform, to KKR

Under EQT's ownership since 2019, Karo has undergone a significant strategic repositioning, shifting from a specialty pharmaceutical company focused on the Nordics into becoming a pan-European pure-play consumer healthcare platform. During this time, with M&A having been a cornerstone of Karo's growth strategy, Karo completed eight acquisitions from industry players which have enriched Karo's portfolio, strengthened its presence in key markets, and accelerated its entry into new geographies. ...

Under EQT's ownership since 2019, Karo has undergone a significant strategic repositioning, shifting from a specialty pharmaceutical company focused on the Nordics into becoming a pan-European pure-play consumer healthcare platform. During this time, with M&A having been a cornerstone of Karo's growth strategy, Karo completed eight acquisitions from industry players which have enriched Karo's portfolio, strengthened its presence in key markets, and accelerated its entry into new geographies.

Commenting on the transaction, Christoffer Lorenzen, CEO of Karo Healthcare, said: "We're incredibly proud of what we've achieved in recent years and grateful to EQT for their partnership, which has been instrumental in helping us grow and evolve into the business we are today. With KKR as our new owner, we are entering an exciting next phase in our journey. Their global reach, deep sector understanding, and long-term approach make them the ideal strategic partner as we continue to invest in our brands, expand into new markets and meet the evolving health needs of consumers."

"Karo is a textbook example of EQT's approach – scaling a local company into a fast-growing sector champion with international reach," said Erika Henriksson, Partner in the EQT Private Equity advisory team. "Thanks to its consumer centricity, strong M&A track record, and proven brand growth playbooks, Karo is now primed to further expand on its leadership position. We're proud of what Christoffer and the team have achieved and excited to hand over to a new owner for the next phase."

Inaki Cobo, Partner at KKR, said: "Karo is a unique platform with high-quality brands, strong digital and commercial capabilities, and a proven strong leadership team. We are thrilled to invest in this European champion's next phase of growth, drawing on our deep experience in the consumer health space to support continued expansion, innovation, and organic and inorganic growth." Hans Arstad, Managing Director at KKR, added: "Karo operates in a resilient, growing sector supported by long-term demographic trends and increasing consumer focus on wellness and self-care. We engaged the full capabilities of our firm to deliver this transaction during a period of market disruption and we look forward to supporting Karo's growth as a value-enhancing strategic partner."

The transaction is subject to customary regulatory conditions and approvals and is expected to close in the coming months. EQT was advised by Morgan Stanley, Jeffries, White & Case and PwC. Citigroup acted as financial advisor to KKR.

Media Contacts
EQT Press Office, [email protected]
KKR, Alastair Elwen, [email protected]

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