Consumer health giant Haleon Plc is exploring a potential divestment of some smoking cessation products as it seeks to offload non-core businesses, people familiar with the matter said.
(Bloomberg) — Consumer health giant Haleon Plc is exploring a potential divestment of some smoking cessation products as it seeks to offload non-core businesses, people familiar with the matter said.
Haleon is working with an adviser to identify potential suitors for the Nicotinell brand of nicotine gum, patches and lozenges, according to the people. The business is attracting interest from both investment firms and consumer companies and could be worth as much as $800 million in a sale, they said.
Haleon, which was spun off from GSK Plc last year, has a market value of about £29.6 billion ($37.5 billion). Deliberations are ongoing and no final decisions on a sale have been made, the people said, asking not to be identified because the information is private.
A representative for Haleon declined to comment.
Under Chief Executive Office Brian McNamara, Haleon has been looking to streamline its vast portfolio and focus on its core products. The company was also exploring a divestiture of its ChapStick lip balm brand, which could fetch about $600 million, Bloomberg News reported in February.
Haleon owns brands such as Centrum, Tums and Advil. GSK raised about $1 billion in May paring its stake in the London-listed company.
–With assistance from Suzi Ring.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.