Karo Healthcare Strengthens its Portfolio in Northern Europe
Simpson Thacher advised Karo Healthcare (“Karo”) in connection with its confirmed agreement to acquire Perrigo Company plc (“Perrigo”) and its portfolio of skin health brands, including ACO. The agreement comes following the closing of KKR’s acquisition of Karo on 27 August. The pending transaction was previously announced by a KKR-affiliated vehicle and Perrigo on 14 July, 2025 and the terms remain unchanged with the transaction expected to close in Q1 2026.
Perrigo’s Dermacosmetics branded business, which generated more than €120 million in net sales in 2024 across the Nordics, the Netherlands, and Poland, includes trusted, science-backed skincare brands and has a strong strategic fit with Karo’s business. This planned transaction marks another major milestone in Karo’s growth journey and is a testament to the company’s commitment to expanding its portfolio of brands and to building strong omnichannel market positions in European consumer healthcare.
The Simpson Thacher team includes Étienne Renaudeau, Pauline Patat and Giovanna De Cristofaro (Antitrust).