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April 9, 2025

KKR acquires consumer health company Karo Healthcare from EQT

Press Release
US-based private equity firm KKR has acquired Karo Healthcare, a Swedish consumer healthcare company, from EQT. According to sources cited by Swedish news media Realtid, the company was valued at an EV of EUR 2.65bn, making it one of the largest European private equity transactions this year. According to NKP | M&A Insights' familiar with the situation, Karo Healthcare projected revenues of EUR 550m and EBITDA close to EUR 140m in FY24E, implying an EV/EBITDA (2024E) of 18.9x. The transaction follows Karo's strategic transformation into a pan-European platform with a robust product portfolio in categories such as Skin Health and Vitamins. This acquisition aims to leverage KKR's expertise to further expand Karo's market presence and accelerate growth. Reports say that KKR outbid the French PE firm PAI Partners in the final stages of the process. The deal is subject to customary conditions and regulatory approvals, with completion expected in the coming months. Kar Healthcare provides OT
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Transaction announcement
Originally surfaced by NKP | M&A Insights as:
March 27, 2024

Update: The Morgan Stanley- and Jefferies-advised sale process for EQT’s consumer health company Karo Healthcare has progressed to the second round following the collection of NBOs, according to sources (NKP | M&A Insights Proprietary)

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
February 15, 2024

EQT is entertaining exit dialogues with international investment banks for Karo Healthcare, a provider of OTC and prescription pharmaceuticals as well as medical devices, with sources pointing towards the possibility of a process launching as early as H2-2024 - pro-forma EBITDA of SEK +1,000m in FY23E (NKP Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
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