On the Record · Haleon
Haleon acquisitions, on the record
The businesses Haleon bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
LamisilWord for word“During 2023, we disposed of Lamisil for £235m, and reached an agreement to sell ChapStick for approximately $430 million, and a passive minority interest in Suave Brands Company, allowing Haleon to participate in further value creation of the brand.” 20-F for 2023 | divestiture | During 2023 | £235m |
ChapStickWord for word“During 2023, we disposed of Lamisil for £235m, and reached an agreement to sell ChapStick for approximately $430 million, and a passive minority interest in Suave Brands Company, allowing Haleon to participate in further value creation of the brand.” 20-F for 2023 | agreed divestiture | During 2023 | approximately $430 million |
Smokers' Health business outside of the USWord for word“In 2024, we divested our Smokers’ Health business outside of the US, to focus our resources on higher growth brands and reduce complexity in our network.” 20-F for 2024 | agreed divestiture | 2024 | — |
Nicotine Replacement Therapy business outside the USWord for word“Key divestments included the sale of ChapStick for approximately $430m and our Nicotine Replacement Therapy business outside the US for c.£500m.” 20-F for 2024 | divestiture | — | c.£500m |
Nicotine Replacement Therapy business outside of the US to Dr Reddy's Laboratories SAWord for word“A significant divestment was the sale of Haleon’s Nicotine Replacement Therapy (NRT) business outside the US to Dr Reddy’s Laboratories SA for up to £500m.” 20-F for 2024 | agreed divestiture | — | up to £500m |
additional 33% equity interest in TSKF, the joint venture which operates Haleon’s OTC business in ChinaWord for word“The net debt/adjusted EBITDA actual outcome has been adjusted to exclude the impact of Haleon’s acquisition of an additional 33% stake in the TSKF joint venture, which completed on 30 December 2024.” 20-F for 2024 | acquisition | 30 December 2024 | — |
Tianjin TSKF Pharmaceutical Co. Ltd (TSKF)Word for word“We also acquired an additional 33% equity interest in TSKF, our joint venture in China, for c.£0.5bn.” 20-F for 2024 | acquisition | — | c.£0.5bn |
remaining 12% stake in TSKF joint ventureWord for word“Our strategic position in China, our second-largest market and a key source of long-term growth, was advanced through the acquisition of the remaining 12% stake in our TSKF joint venture.” 20-F for 2025 | acquisition | — | — |
non-US Smokers’ Health businessWord for word“The 2025 decline in reported revenue included a (8.1)% impact from net M&A (divestment of non-US Smokers’ Health business) as well as (1.7)% from foreign exchange movements.” 20-F for 2025 | divestiture | — | — |
Nicotine Replacement Therapy (NRT) business outside the USWord for word“In 2024, the Group recognised £ 121 m gain on disposal of the Nicotine Replacement Therapy (NRT) business outside the US.” 20-F for 2025 | divestiture | In 2024 | £ 121 m gain |
Read from Haleon’s annual reports (20-F for 2025, 20-F for 2024, 20-F for 2023) and the financial data it files with the SEC, as of 2026-03-13. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.