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
Source: Reuters
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
