KKR is nearing a deal to buy E45 maker Karo Healthcare in a buyout that values the healthcare company at about 2.6 billion euros ($2.85 billion), Financial Times reports, citing unnamed sources.

KKR has secured a €2.6bn deal to buy Karo Healthcare, the maker of E45 moisturiser, defying a wider slump in dealmaking during the fallout from US President Donald Trump’s tariff policy.