Reckitt Benckiser has agreed a deal to acquire the leading nutrition company Mead Johnson in a deal worth $16.6 billion (13.32 billion pounds).
The takeover is expected to significantly strengthen Reckitt Benckiser's consumer health capabilities, giving it access to Mead Johnson's considerable research, quality, regulatory and specialist distribution facilities, while improving access to such key markets as China.
“Reckitt Benckiser has strengthened its consumer health business by agreeing a deal to acquire the Mead Johnson nutrition company.“
Mead Johnson's portfolio of brands include the Enfa franchise, which is the global market leader in the lucrative infant and children's nutrition category. The purchase will increase Reckitt Benckiser's revenues in consumer health by approximately 90 percent, with the Enfa franchise set to become its single largest Powerbrand.
Reckitt Benckiser has set a target for the Mead Johnson business to perform at the upper end of estimated category growth of three to five percent per annum in the medium to long term.
Rakesh Kapoor, chief executive officer of Reckitt Benckiser, said: "This is a natural extension to RB's consumer health portfolio of Powerbrands, which are already trusted by millions of mothers, reinforcing the importance of health and hygiene for their families."
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