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
A new wave of brands is emerging that promotes indulgence and rejects the notion of sacrifice. Low-maintenance “hangover” beauty products are designed to address the effects of late nights and partying without judgment or hassle, and even include cosmetics that are formulated in a way that means you can fall asleep in your makeup without feeling guilty.
The pilot will allow the company to scale circular packaging in about 18 markets over the next three years, an approach that jumps on the success of similar efforts in the company’s Indonesia ecoSPIRITS program, which launched in 2022 and is active in 38 bars.
Unilever’s focus on purpose across its brands has been a source of criticism from some of its investors. Its new CEO Hein Schumacher says the company now recognises there are some brands where the concept is simply not relevant.