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Chattem and J&J Close Deal
Posted: January 10, 2007
Chattem has acquired three personal care and two healthcare brands from Johnson & Johnson. The two companies announced the closing of the deal on Jan. 2, 2007 for a reported US$410 million in cash. Chattem now has the rights to Act, Cortizone, Balmex, Unisom and Kaopectate. The five brands were part of Johnson & Johnson's acquisition of Pfizer's Consumer Healthcare business which J&J reportedly had to sell to comply with regulatory requirements.
Chattem's personal care portfolio, in addition to the new brands, includes names such as Sportscreme, Aspercreme, Gold Bond, Selsun Blue, Sun-In and UltraSwim. The company reportedly plans to explore the growth potential of its newly acquired brands.