British consumer goods group Reckitt Benckiser is considering the sale of its foods business, which includes French’s, its top-selling U.S. mustard brand, to help fund its $16.6 billion takeover of baby food maker Mead Johnson, British newspaper The Sunday Times said.
The maker of Durex condoms and Nurofen painkillers has told banks it plans to sell the foods division, as it no longer considers it core to a business increasingly focused on consumer health, the report said, citing senior sources.
The foods arm, which had sales last year of 411 million pounds, could fetch more than 2.4 billion pounds ($3 billion), according to the report.
Reckitt, which on Friday said it had cut the pay of Chief Executive Rakesh Kapoor after a safety scandal in South Korea, agreed to buy Mead Johnson in February.
A spokeswoman for Reckitt declined to comment on the report.
By Paul Sandle
The government has published a list of around 30 fruits and vegetables that will be subject to the plastic packaging ban coming into effect on 1 January 2022. The list includes courgettes, aubergines and cucumbers, as well as apples, oranges and pears.
Kraft Heinz has detailed plans to release a circular PET tomato ketchup bottle by 2022 in its latest Environmental Social Governance report. The company has made progress towards its aim of using 100% recyclable, reusable or compostable packaging by 2025.
The drinks category is brimming with trend-driven launches including flavorful, energizing and better-for-you beverages. FoodIngredientsFirst speaks to disruptive fizzy beverage brands, whose offerings include a classic cola recipe reimagined with a clean label twist, as well as AI-generated flavor synergies.