SSL International

SSL International plc was a British consumer healthcare manufacturer and brand-owning company best known internationally for Durex sexual-wellness products and Scholl foot-care products. Its corporate name reflected the combination of three predecessor businesses: Seton Healthcare, Scholl, and the London Rubber Company, later known as London International Group. Although the modern SSL structure emerged through mergers in the late 1990s, the businesses behind it had much older origins in medical supplies, podiatry, condoms, and healthcare products. The company’s historical roots extended to the London Rubber Company, founded in 1915 by L. A. Jackson. That business sold imported condoms and barber-shop supplies before developing a broader portfolio that included Durex, Regent surgical gloves, and Marigold industrial gloves. Seton Healthcare was established in 1952 by Ivor Stoller as a producer of tubular bandages and later expanded into over-the-counter medicines and antiseptic products. The Scholl business brought a separate heritage in foot-care products: Dr. Scholl’s had been founded in Chicago in 1906 by podiatrist William M. Scholl and opened its first London shop in 1913. Scholl and Seton merged in July 1998 to form Seton Scholl plc. In 1999, Seton Scholl merged with London International Group, creating Seton Scholl London International Group plc, which was shortened to SSL International. Stuart Wallis, the first chairman of SSL, led the initial integration of the businesses. The new company combined consumer brands with medical, industrial, and professional healthcare operations, but it subsequently narrowed its scope. Between 2002 and 2004, SSL pursued a strategic repositioning toward its most valuable consumer brands, particularly Durex and Scholl. It sold a number of peripheral or business-to-business activities, including over-the-counter brands, Marigold industrial gloves, wound-management products, Regent infection-control products, and the Silipos business. This program reduced the company’s exposure to industrial and medical products and made its portfolio more concentrated in sexual wellness, foot care, and selected consumer healthcare categories. SSL continued to expand within its core areas. In 2007 it acquired Orthaheel, an Australian insole business associated with podiatrist Phillip Vasyli, strengthening its position in biomechanical and supportive foot-care products. In 2008 it acquired Crest Condoms, a Swiss condom brand, adding to the Durex-centered sexual-wellness portfolio. By early 2010, SSL was a constituent of the FTSE 250, operated commercially in more than thirty countries, and maintained manufacturing facilities in the United Kingdom, Spain, China, India, Thailand, and the Commonwealth of Independent States. Its principal consumer brands gave it international reach, while its manufacturing and distribution network supported both mature and emerging markets. In July 2010, Reckitt Benckiser agreed to acquire SSL International in a transaction valued at approximately £2.5 billion. The takeover was completed in November 2010. SSL was subsequently folded into Reckitt Benckiser rather than continuing as an independent listed company. Durex and Scholl remained important brands within Reckitt’s consumer-health portfolio, while SSL International ceased to operate as a standalone corporate entity.

SSL International developed from a series of businesses with roots in British and international healthcare manufacturing. The oldest major predecessor represented in its portfolio was the Scholl business, founded in Chicago in 1906 by podiatrist William M. Scholl. Scholl opened its first London shop in 1913 and became an established international foot-care name. After Dr. Scholl’s death, the business was publicly listed in the United States in 1972 and was acquired by Schering-Plough in 1978. In 1984, Schering-Plough sold the global Scholl brand and non-North American operations to European Home Products, a Basingstoke-based manufacturer of electrical home appliances. Another important predecessor was the London Rubber Company, founded in 1915 by L. A. Jackson. Initially it sold imported condoms and barber-shop supplies. It later broadened its activities into consumer health and beauty products, developing the Durex brand and adding medical and industrial products such as Regent surgical gloves and Marigold industrial gloves. The business was subsequently renamed London International Group plc. Seton Healthcare was founded in 1952 by Ivor Stoller to sell tubular bandages. It floated on the London Stock Exchange in 1990 and expanded beyond wound-care products through acquisitions. In 1992 it bought Blackburn-based patent-medicines maker Cupal, obtaining brands including Cuprofen, Full Marks Mousse, and Meltus. The transaction also brought rights to manufacture and market Betadine antiseptics. Scholl and Seton merged in July 1998, creating Seton Scholl plc. In 1999, Seton Scholl merged with London International Group. The resulting company was named Seton Scholl London International Group plc and soon became known as SSL International. The name was an abbreviation of the three predecessor identities. Stuart Wallis, SSL’s first chairman, oversaw the initial integration and left the company in 2001. During the early 2000s, SSL changed from a diversified healthcare manufacturer into a more focused consumer-brands company. From 2002 through 2004 it sold or discontinued a range of non-core activities. In March 2002 it sold 21 over-the-counter brands to Thornton & Ross. In November 2003 it sold Marigold Industrial Gloves to Comasec SAS. In May 2004 it sold wound-management products to Medlock Medical, an Apax Partners-owned business, and sold Regent Infection Control, including Biogel surgical gloves and Hibi antiseptics, to another Apax-related business for £173 million. The remaining Silipos business was sold to Langer Inc. in October 2004. These transactions concentrated SSL’s strategy on its principal consumer franchises, especially Durex and Scholl. The company subsequently pursued selective growth in those categories. In November 2007 it acquired Orthaheel, an Australian insole company associated with podiatrist Phillip Vasyli. In 2008 it acquired Crest Condoms, a Swiss condom brand. These deals reinforced SSL’s focus on foot-care supports and sexual wellness. By the beginning of 2010, SSL was listed on the FTSE 250 and had a commercial presence in more than thirty countries. Its manufacturing network included facilities in the United Kingdom, Spain, China, India, Thailand, and the Commonwealth of Independent States. In July 2010, Reckitt Benckiser announced an agreement to acquire SSL for approximately £2.5 billion. The transaction was completed in November 2010, and SSL International was folded into Reckitt Benckiser. The independent SSL corporate structure and listing ended, while its best-known brands continued under the acquirer.

• 2010

  Reckitt Benckiser agrees to acquire SSL

  [1]SSL Internationalen.wikipedia.org

  Reckitt Benckiser agreed to acquire SSL International in a deal valued at approximately £2.5 billion.

• 2010

  SSL is folded into Reckitt Benckiser

  [1]SSL Internationalen.wikipedia.org

  The acquisition was completed in November, ending SSL International’s existence as an independent listed company.

• 2008

  Crest Condoms is acquired

  [1]SSL Internationalen.wikipedia.org

  SSL expanded its sexual-wellness portfolio by acquiring the Swiss Crest Condoms brand.

• 2007

  Orthaheel is acquired

  [1]SSL Internationalen.wikipedia.org

  SSL acquired the Australian supportive-insole business Orthaheel.

• 2004

  Medical and industrial divestments conclude

  [1]SSL Internationalen.wikipedia.org

  SSL completed major disposals involving wound management, infection control, surgical gloves, and Silipos.

• 2002

  Strategic repositioning begins

  [1]SSL Internationalen.wikipedia.org

  SSL began divesting peripheral activities and moved toward a more focused consumer-healthcare portfolio.

• 1999

  SSL International is created

  [1]SSL Internationalen.wikipedia.org

  Seton Scholl merged with London International Group, creating Seton Scholl London International Group, later shortened to SSL International.

• 1998

  Seton and Scholl merge

  [1]SSL Internationalen.wikipedia.org

  Scholl and Seton Healthcare merged in July to form Seton Scholl plc.

• 1990

  Seton Healthcare lists on the London Stock Exchange

  [1]SSL Internationalen.wikipedia.org

  Seton Healthcare became a publicly traded company in the United Kingdom.

• 1952

  Seton Healthcare is founded

  [1]SSL Internationalen.wikipedia.org

  Ivor Stoller founded Seton Healthcare as a tubular-bandage business.

Showing the 10 most recent.

International consumer healthcare and personal-care company centered on sexual wellness, foot care, and selected over-the-counter healthcare products.

• Sexual wellness

  Durex

  Durex was SSL International’s best-known sexual-wellness franchise. The brand originated within the London Rubber Company and became associated internationally with condoms and related personal products. It was the central consumer brand in SSL’s sexual-health portfolio and remained one of the principal assets motivating Reckitt Benckiser’s 2010 acquisition.

• Foot care · 1906

  Scholl

  Scholl was SSL’s major foot-care franchise, with roots in the podiatry business founded by William M. Scholl in 1906. Its portfolio included products intended to support everyday foot comfort and care, including insoles and related foot-care items. Scholl gave SSL a widely recognized international presence distinct from its Durex sexual-wellness business.

• Supportive insoles

  Orthaheel

  Orthaheel was an Australian insole business acquired by SSL in 2007. Its products were designed and marketed around podiatric support and biomechanical foot comfort, strengthening SSL’s position in specialized foot-care products alongside Scholl.

• Sexual wellness

  Crest Condoms

  Crest Condoms was a Swiss condom brand acquired by SSL in 2008. The acquisition broadened SSL’s condom portfolio and complemented the company’s flagship Durex business.

• Medical products

  Regent Infection Control

  Regent Infection Control represented SSL’s medical and institutional healthcare activities. It included Biogel surgical gloves and Hibi antiseptics before the business was sold in 2004 as part of SSL’s strategic shift toward consumer brands.

• Industrial protection

  Marigold Industrial Gloves

  Marigold Industrial Gloves was part of SSL’s business-to-business product portfolio inherited from London International Group. SSL sold the business to Comasec SAS in 2003 as it reduced its exposure to industrial products.

• 2010

  SSL accepts Reckitt Benckiser takeoverM&A

  Background

  By 2010, SSL had international commercial operations, a focused consumer-healthcare portfolio, and a listing in the FTSE 250.

  Action taken

  SSL agreed in July 2010 to be acquired by Reckitt Benckiser in a transaction valued at approximately £2.5 billion.

  Aftermath

  The transaction completed in November 2010. SSL was folded into Reckitt Benckiser and no longer operated as an independent listed company.

  Acquisition value. Approximately £2.5 billion (2010)

  Source

• 2008

  SSL expands sexual wellness through Crest CondomsM&A

  Background

  Durex was SSL’s core sexual-wellness brand, and the company continued to build scale in condoms.

  Action taken

  SSL acquired Crest Condoms, a Swiss condom brand.

  Aftermath

  The acquisition added another condom brand to SSL’s portfolio before the company was acquired by Reckitt Benckiser.

  Source

• 2007

  SSL expands foot care through Orthaheel acquisitionM&A

  Background

  SSL sought growth in foot care, one of the company’s two principal consumer categories.

  Action taken

  The company acquired Orthaheel, an Australian supportive-insole business associated with podiatrist Phillip Vasyli.

  Aftermath

  The deal broadened SSL’s foot-care and insole offering alongside Scholl.

  Source

• 2004

  SSL completes major medical and industrial disposalsStrategy

  Background

  The strategic repositioning required SSL to exit businesses that were less closely connected to its principal consumer brands.

  Action taken

  SSL sold Marigold Industrial Gloves, wound-management products, Regent Infection Control, and the Silipos business between 2003 and 2004. Regent Infection Control was sold in May 2004 for £173 million.

  Aftermath

  SSL became more concentrated in Durex, Scholl, and related consumer healthcare activities.

  Reported consideration for Regent Infection Control disposal. £173 million (May 2004)

  Source

• 2002

  SSL begins strategic repositioning around consumer brandsStrategy

  Background

  SSL owned a broad mixture of consumer, medical, industrial, and over-the-counter healthcare activities. The company sought to concentrate resources on its strongest consumer franchises, especially Durex and Scholl.

  Action taken

  The company began selling non-core assets, including 21 over-the-counter brands sold to Thornton & Ross in March 2002.

  Aftermath

  The divestment program progressively reduced SSL’s exposure to medical and industrial markets and produced a more focused consumer-healthcare portfolio.

  Source

• 2010

  SSL International agrees to acquisition by Reckitt Benckiser[1]SSL Internationalen.wikipedia.org

  M&A

  Reckitt Benckiser agreed to acquire SSL International in a transaction valued at approximately £2.5 billion, combining Reckitt’s household and consumer-health portfolio with SSL’s Durex and Scholl brands.

• 2010

  Reckitt Benckiser completes acquisition and folds SSL International into the group[1]SSL Internationalen.wikipedia.org

  M&A

  The acquisition of SSL International was completed in November 2010, after which SSL ceased to operate as an independent listed company.

• 2008

  SSL International acquires Crest Condoms[1]SSL Internationalen.wikipedia.org

  M&A

  SSL acquired the Swiss Crest Condoms brand, adding another condom business to its sexual-wellness portfolio.

• 2007

  SSL International acquires Orthaheel[1]SSL Internationalen.wikipedia.org

  M&A

  SSL acquired the Australian Orthaheel business, which marketed podiatrist-designed supportive insoles and expanded SSL’s foot-care offering.

1. 1SSL Internationalen.wikipedia.org