Sector News

Unilever and Hormel leading bidders for Britain's Reckitt Benckiser

July 18, 2017
Food & Drink

Speculation is mounting over Hormel and Unilever reportedly leading the pack to buy the foods division of British consumer goods maker Reckitt Benckiser.

The Anglo-Dutch conglomerate is vying with the Minnesota-based food company and canned meat producer to acquire Reckitt Benckiser with both companies considered the frontrunners in a potential deal that is expected to top US$2.9 billion.

The rumor mill has been going into overdrive over the last few days following an article in the Sunday Times claiming that unidentified sources spoke with the UK newspaper about a possible deal.

The England-based multinational consumer goods company produces health, hygiene and home products and was formed in 1999 by the merger of the UK-based Reckitt & Colman plc and the Netherlands-based Benckiser NV.

Its brands include French’s Mustard, the antiseptic brand Dettol, the sore throat medicine Strepsils, the hair removal brand Veet, the immune support supplement Airborne, the air freshener Air Wick, as well as other big names like Calgon, Clearasil, Cillit Bang, Durex, Lysol, Mycil and Vanish.

In April FoodIngredientsFirst reported how Reckitt Benckiser is considering selling off its food division at an estimated US$2 billion as it prepared to acquire infant formula maker Mead Johnson Nutrition.

In a statement issued at the time, the company said it has begun a strategic review of the division where it is considering all options for the “non-core” business.

Source: Food Ingredients First

comments closed

Related News

June 24, 2022

Carlsberg announces resignation of CFO Heine Dalsgaard

Food & Drink

Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.

June 24, 2022

Kellogg to split into three companies, focus on snacks

Food & Drink

Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.

June 24, 2022

Mondelēz to buy energy bar company Clif Bar for $2.9bn

Food & Drink

The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.