Reckitt kicks off $10 billion infant nutrition biz sale

Reckitt Benckiser Group Plc has begun a sale course of for its toddler vitamin enterprise in what’s set to be one of many British shopper items agency’s largest-ever disposals, individuals with data of the matter mentioned.

The London-listed firm, which sells manufacturers together with Enfamil system, despatched out advertising supplies to potential consumers this month, the individuals mentioned. Reckitt may search as a lot as $10 billion for the unit, in accordance with the individuals, who requested to not be recognized as a result of the knowledge is non-public.

Bids for the enterprise, whose greatest operations are within the US, are anticipated on the finish of Could, the individuals mentioned. It may appeal to curiosity principally from non-public fairness companies, the individuals mentioned.

A sale would full a reversal of Reckitt’s largest buy, the $17 billion acquisition of Mead Johnson Vitamin Co. 5 years in the past underneath former Chief Government Officer Rakesh Kapoor. His successor, Laxman Narasimhan, bought the Chinese language toddler system a part of that enterprise to native buyout agency Primavera Capital for $2.2 billion final 12 months, exiting considered one of its largest markets. The corporate mentioned on the time that the remaining operations in North America and different components of the world had about 5.4 billion kilos ($7.3 billion) of web property.