In a power move set to rattle the European healthcare landscape, KKR & Co. has inked a deal to acquire Sweden’s Karo Healthcare from EQT in a blockbuster transaction reportedly valued between €2.5 billion and €2.6 billion ($2.85 billion), the companies announced Wednesday.
This strategic handoff of one of Europe’s fastest-growing consumer health companies marks a milestone moment in EQT’s investment playbook, showcasing a transformation from local player to global contender under its stewardship.
“Karo is a textbook example of EQT’s approach — scaling a local company into a fast-growing sector champion with international reach,” said Erika Henriksson, partner at EQT’s private equity advisory team.
From Nordic Roots to Global Footprint: Karo’s Five-Year Growth Explosion
Since EQT acquired Karo in 2019, the once regionally-focused pharmaceutical outfit has reinvented itself into a pan-European consumer healthcare force, with sales quadrupling over five years. Karo now operates in over 90 countries and boasts a portfolio spread across skincare, foot health, digestive health, and vitamins and mineral supplements.
Karo’s workforce numbers around 470 employees spread across 13 international hubs, reflecting its robust expansion fueled by eight strategic acquisitions since 2019.
“Karo is a unique platform with high-quality brands, strong digital and commercial capabilities, and a proven strong leadership team,” said Iñaki Cobo, partner at KKR.
KKR plans to absorb Karo into its core private equity strategy, further positioning the company to capitalize on the accelerating demand for consumer-centric healthcare solutions.
