PITTSBURGH--(BUSINESS WIRE)--Foundation Consumer Brands, a company under common management with Foundation Consumer Healthcare (Foundation), has entered into a definitive agreement to acquire seven brands from GSK Consumer Healthcare. The acquisition is expected to close on or around September 30, 2020, subject to Hart-Scott-Rodino clearance.
This diverse portfolio of products includes Breathe Right® Nasal Strips, the world’s #1 nasal strip, and Children’s Dimetapp®, the #1 pharmacist-recommended brand for children's cough and cold products, as well as Anbesol®, Alavert®, Dristan®, Primatene Tablets® and FiberCon®. The addition of these brands will expand Foundation’s marketing presence to an additional 32 markets globally.
“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.
Formed in 2014, Foundation has rapidly built a portfolio of differentiated OTC products. Foundation currently markets the #1 OB-GYN recommended Plan B One-Step® emergency contraception, its flagship product and the #1 dollar-selling OTC SKU in the U.S. Additionally, Foundation markets the brands St. Joseph® Aspirin, Campho Phenique® Cold Sore and First Aid therapies and Bronkaid®. By incorporating these new products into the Foundation portfolio, the company expects to continue on its trajectory of double-digit growth.
Known for breathing new life into long-standing products, Foundation is committed to using the same model with these seven new brands. “We will invest significant resources to drive growth and look forward to leveraging our collective industry expertise to maximize the potential of these brands,” said Bradley.
The Foundation management team is comprised of industry leaders with unparalleled experience in the development, marketing, and commercialization of prescription and OTC medicines. Foundation is financed by Juggernaut Capital Partners and Kelso & Company, two established private equity firms with successful histories in the OTC marketplace and a commitment to building a strong portfolio of brands under the Foundation banner.
About Foundation Consumer Healthcare
Formed in 2014, Foundation Consumer Healthcare is dedicated to improving consumers’ lives by developing and growing a portfolio of differentiated over-the-counter (OTC) products including Plan B One-Step®, Campho-Phenique®, St. Joseph® 81 mg Aspirin, and Bronkaid® Dual Action Asthma Caplets. For additional information, visit https://foundationch.com.
