Haleon plc finalized an agreement to sell its ChapStick brand to Suave Brands Company. Haleon will receive an estimated pre-tax cash income close to $430 million, along with a non-active minor share in Suave Brands, which is estimated to be around $80 million. The company stated the revenue from the sale will be directed towards settling debts.
Brian McNamara, the CEO of Haleon, expressed, "Although ChapStick is a highly popular brand worldwide, it is not a primary focus for Haleon. The act of selling the brand simplifies our business operations and accelerates the debt repayment process."
