Pharmaceutical group Sanofi has finalised the sale of a controlling 50% stake in its consumer health business Opella to CD&R, the US private equity firm that owns Morrisons.
Sanofi has retained a 48.2% shareholding of Opella, while Bpifrance will own a 1.8% stake. Sanofi received total net cash proceeds of around €10bn from the deal.
The French company revealed in 2023 that it was reviewing potential scenarios to separate out its consumer healthcare business to focus spending on the development of new medicines and vaccines in its core business. The Opella consumer division accounted for around a tenth of the group’s total sales.
Opella employs over 11,000 people, operates in 100 countries, and manages 13 manufacturing sites and four research centres. It has a portfolio of 100 brands, including Allegra, Doliprane, Novanight, Icy Hot, and Dulcolax, making it the world’s third-largest company in the OTC, vitamins, and supplements market.
Eric Rouzier, Partner and Head of European Healthcare at CD&R, commented: “This is an exciting opportunity for CD&R to support Opella in building a French-headquartered, global consumer health champion. Opella stands out through the strength of its brands and the expertise of its people. CD&R brings complementary experience in the consumer health sector, along with operational insight and long-term capital, to help accelerate Opella’s growth. We are committed to supporting Opella’s continued development, both in France and abroad, and to better serving employees, consumers, and patients alike.”
Julie Van Ongevalle, President and Chief Executive Officer at Opella, added: “Reaching this milestone is an exciting moment in Opella’s journey. Through significant transformations, we have become one of the largest global players in our sector, bringing innovation to over half a billion consumers worldwide. We are ready to unlock Opella’s full potential, drive value creation, and leverage our teams’ exceptional talent to become a leader in the fast-moving consumer healthcare space.”
