Chattem has purchased the worldwide rights to antacid medicine Rolaids from McNeil Consumer Healthcare Division of McNeil PPC Inc.
Zan Guerry, chief executive of Chattanooga-based Chattem, said the addition of Rolaids represents a rare opportunity to obtain an iconic brand.
He said in a news release that officials for the over-the-counter maker of brands such as Icy Hot and Gold Bond believe Rolaids “will respond positively to our proven approach of growing brands through innovation and advertising.”
Anne Whitaker, president of North America Pharmaceuticals of Chattem parent Sanofi, said the acquisition is consistent with the company’s long-term strategy.
“Chattem has a proven track record of successful acquisitions,” she said in a statement.
See full story in Tuesday’s Times Free Press.
Mike Pare, the deputy Business editor at the Chattanooga Times Free Press, has worked at the paper for 27 years. In addition to editing, Mike also writes Business stories and covers Volkswagen, economic development and manufacturing in Chattanooga and the surrounding area. In the past he also has covered higher education. Mike, a native of Fort Lauderdale, Fla., received a bachelor’s degree in communications from Florida Atlantic University. he worked at the Rome News-Tribune before ...