Sanofi and CD&R have entered into exclusive negotiations for the potential sale and purchase of a 50% stake in Opella.
The deal aims to make Opella into a standalone leader in consumer healthcare, while allowing Sanofi to focus on medicines and vaccines.
Sanofi would still act as a shareholder to the company, with CD&R also contributing financially to support Opella's growth.
Bpifrance will also participate as a minority shareholder, with a c.2% stake in Opella.
By retaining its position as a significant shareholder in Opella, Sanofi will retain a segment of the company's future value creation.
The transaction is subject to the finalisation of definitive agreements, as well as customary statutory approvals.
Opella is currently the third largest business in OTC vitamins, minerals and supplements — serving more than 500 million customers globally.
Sanofi's CEO, Paul Hudson, commented: “We are proud of what Opella and its inspired people have already accomplished. We are confident that the future of Opella will be even brighter. We share the love and emotional attachment to Opella’s brands, hence our decision to remain vested in its future. We will support Opella on its path to become an independent company, grounded in talented people, a deep consumer expertise and a truly global presence with deep roots in France."
"Our chosen partner, CD&R, has demonstrated unique capabilities in the consumer space, with deep values of respect for employees, customers, communities in which they operate and the environment. We also welcome Bpifrance as a supporter of Opella’s development journey. At the same time, Sanofi can focus even more in bringing innovative solutions to patients suffering from debilitating or life-threatening diseases or viruses such as RSV, COPD, or multiple sclerosis.”
CD&R's Partner and Head of European Healthcare, Eric Rouzier, added: “This is an exciting opportunity for CD&R to partner with Sanofi to support Opella’s ambitious management team as it invests in innovation and growth to create a French-headquartered, global consumer healthcare champion. Opella is differentiated by the quality of its brand portfolio and its highly skilled and motivated workforce."
"We see significant opportunities to enhance Opella’s market leadership by leveraging our deep industry expertise, broad network of operating talents, and capital resources to position the company for accelerated growth. We look forward to supporting both its French operations, including Opella’s critical manufacturing footprint and advanced R&D capabilities, and further developing its global platform to better serve employees, consumers and patients.”
President and CEO of Opella, Julie Van Ongevalle, commented: “This announcement is a major and exciting milestone in Opella's journey. Building on significant transformations, we have grown into one of the largest global players in our sector, bringing relevant innovation to more than half a billion consumers worldwide."
"Partnering with CD&R will allow Opella to unlock its full development potential, to further drive value creation and deploy the exceptional talent of our teams to become a leading company in the fast-moving consumer healthcare space. We are poised to continue leveraging our strong scientific roots to grow our iconic “love brands” to meet consumers’ evolving needs and make self-care as simple as it should be.”
