Published by Uma Rajagopal
Posted on November 7, 2024
(Reuters) –Private equity groups Advent International and Apollo Global are among firms considering a potential buyout of consumer goods company Reckitt’s homecare assets, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Britain-based Reckitt announced plans in July to divest its home care portfolio, which includes Air Wick air fresheners and Cillit Bang cleaner, by the end of 2025.
The London-listed company is working with Morgan Stanley to sell its brands, targeting a valuation of more than 6 billion pounds ($7.74 billion), according to the report.
Clayton Dubilier & Rice and PAI Partners are also among interested parties for the British firm’s assets, the report added.
Reckitt, which has also been considering options for its litigation-hit Mead Johnson Nutrition business, plans to refocus on its healthcare and hygiene as part of the broad organizational review.
Apollo did not immediately respond to a Reuters request for comment.
PAI Partners and Advent International declined to comment on the report.
($1 = 0.7756 pounds)
(Reporting by Raechel Thankam Job and Judes Jospeh; Editing by Shinjini Ganguli, Tasim Zahid and Mohammed Safi Shamsi)
