Foundation Consumer Healthcare buying 7 OTC brands from GSK Consumer Healthcare
Foundation Consumer Healthcare is buying seven brands from GSK Consumer Healthcare. Via its Foundation Consumer Brands company, Foundation has entered a definitive agreement to acquire Breathe Right Nasal Strips and Children’s Dimetapp, as well as Anbesol, Alavert, Dristan, Primatene Tablets and Fiber Con, expanding the company’s reach to 32 global markets.
“As the team behind making Foundation one of the fastest-growing OTC healthcare companies, we are uniquely qualified to drive the growth of these trusted brands,” said Greg Bradley, president and CEO of Foundation. The acquisition will bring the customer the world’s No. 1 nasal strip and the top pharmacist-recommended brand for children’s cough-cold products.
Since it was founded in 2014, Foundation has built a wide OTC portfolio, largely through acquisitions, the most notable of which was Plan B One-Step Emergency Contraception, which it acquired from Teva in 2017. The Pittsburgh-based company specializes in breathing new life into well-known products, and counts among its portfolio St. Joseph Aspirin, Campho Phenique Cold Sore and First Aid therapies, and Bronkaid.
Foundation, which is led by CPG veterans with experience in commercializing prescription and OTC medicines, is funded by Juggernaut Capital Partners and Kelso & Co. It expects the acquisition of the GSK Consumer Healthcare brands to close on or around Sept. 30.