Cilag GmbH to acquire J.B. Chemicals’ Russian OTC brands
As part of recent definitive agreements, Cilag GmbH International, a wholly-owned subsidiary of Johnson & Johnson, will acquire the over-the-counter brands of J.B. Chemicals & Pharmaceutical Limited (JBCPL) for the equivalent of approximately $260 million in cash.
New Brunswick, N.J.--
As part of recent definitive agreements, Cilag GmbHInternational, a wholly-owned subsidiary of Johnson & Johnson, will acquirethe over-the-counter brands of J.B. Chemicals & Pharmaceutical Limited(JBCPL) for the equivalent of approximately $260 million in cash. Among thebrands Cilag will be acquiring are RINZA, Russia's leading multi-symptom coughand cold brand, DOKTOR MOM, the number two selling cough brand in Russia andFitovit, as well as other brands. Johnson & Johnson LLC, another subsidiaryof J&J, will market the products in Russia, as well as in the Commonwealthof Independent States and other countries.
"Emerging markets continue to be an important growthopportunity for Johnson & Johnson," says Jesse Wu, Worldwide Chairman,Johnson & Johnson Group of Consumer Companies. "This acquisition of strongbrands in Russia will allow us to expand our OTC offerings in these growthmarkets and support our emerging markets strategy."
J.B. Mody, chairman of JBCPL,calls the transaction "a testimony to the quality & competitiveness ofJBCPL's branded product portfolio and its world class manufacturingcapabilities."
"The divestment will provide JBCPL with the financialflexibility to pursue new growth opportunities in India and other focusmarkets," says Mody. "We are confident that Johnson & Johnson will take ourbusiness in Russia/CIS to even greater heights."
Johnson & Johnson expects the acquisition to close bymid-2011, subject to customary closing conditions.
JBCPL brought Bank of AmericaMerrill Lynch on as exclusive financial advisor for the transaction.
