What do they announce? Or what have they announced? Because I've probably missed it, knowing me.
They announce that - !!! ... they have received a binding offer and entered into exclusive negotiations with Perrigo for the sale of HRA Pharma.
Oh, okay. Fair enough. Should I continue with this PR email then, or ... 'Continue!' Yes, yes. I must continue.
Paris, 8 September 2021 - Astorg ("Astorg") and Goldman Sachs Asset Management ("Goldman Sachs") today announced they have received a binding offer and entered into exclusive negotiations with Perrigo Company plc ("Perrigo") for the sale of Héra SAS ("HRA" or "HRA Pharma").
And I am writing about it, me, Michael Fowke ("Mikey"). 'And I am helping, me, the Voice ("Voice").' Shut up, idiot!
HRA Pharma is a category leader in over-the-counter ("OTC") healthcare products across areas including women's health and compromised skin, operating via brands including Ella, Compeed, and Mederma.
And there's more ...
But I want to go straight to the voices ...
David Wright CEO, HRA, states: "Since 1996, HRA has been extremely successful in developing and growing brands and innovative solutions to meet consumer medical needs. Our focus over the last four years has been to substantially grow Compeed, Mederma, and Ella as well as building a solid platform of new innovations including ground breaking Rx to OTC switches. In addition, the Rare Disease business has continuously grown double digit over the last four years. '’m incredibly proud of the hard work of the HRA team, who have helped establish the company as a world-class organization - one positioned to now contemplate a new chapter of its journey as part of the Perrigo family."
Thanks, ("Davy Boy")!
Thierry Timsit, Managing Partner and CEO of Astorg, and Judith Charpentier, Partner and Head of Healthcare, comment: "Driving the transformation from a family-owned, mostly French company into one of the fastest-growing global OTC leaders in 5 years has been an extremely gratifying experience. It was only made possible under the visionary leadership of David and his entire team, working hand in hand with Astorg, Goldman Sachs and the founding families. With a healthy product pipeline, strong digital channels, proven M&A capabilities, and numerous new US opportunities, we are convinced that a new partnership with Perrigo will lead HRA to new heights."
Yes, and, er ... thanks. Shivers down my spine.
Michael Bruun, Partner and Head of the EMEA Private Equity business within Goldman Sachs Asset Management, and Adam Dawson, Managing Director and Head of EMEA Healthcare Private Equity within Goldman Sachs Asset Management, say, together, just like those two girls in The Shining: "We are extremely proud of HRA's success under David and the broader management team and are excited about the opportunity for HRA to join forces with Perrigo. Using our deep healthcare sector experience, digital capabilities and global footprint, and through a successful partnership with management, Astorg and HRA's other shareholders, we are proud to have been able to support, expand and build the company into the high growth, global consumer healthcare leader that it is today."
Thank you, ("Mikey"). '("Mickey"), boss.' What? 'He likes to be called ("Mickey"). Whatever.
And what about Adam?
Eh?
Uh.
So, is this the ENDS ... ?
The selling shareholders and HRA are advised by Sawaya Partners, Goldman Sachs Investment Banking Division, Rothschild & Co, Latham & Watkins, Dechert, Jones Day, PricewaterhouseCoopers Advisory and Ernst & Young Avocats.
The proposed transaction is expected to close in the first half of 2022 subject to, among other things, regulatory and antitrust review and approval, as well as works council information and consultation processes.
No, obviously not.
However, this is the ENDS
ENDS
ENDS
ENDS
...
Anything else?
Why would there be anything else?
There is nothing else.
