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Advent, Apollo among potential bidders for Reckitt’s homecare assets, Bloomberg News reports
Home > Top Stories > Advent, Apollo among potential bidders for Reckitt’s homecare assets, Bloomberg News reports
(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)
Frequently Asked Questions about Advent, Apollo among potential bidders for Reckitt’s homecare assets, Bloomberg News reports
1What is private equity?
Private equity refers to investment funds that buy and restructure companies that are not publicly traded. These funds are typically managed by private equity firms that seek to improve the financial performance of the acquired companies.
2What are consumer goods?
Consumer goods are products that are purchased by individuals for personal use. They include items like food, clothing, and household products, and are typically sold in retail settings.
3What are divestments?
Divestments refer to the process of selling off a subsidiary or business unit. Companies may divest assets to streamline operations, raise capital, or focus on core business areas.
4What are investment portfolios?
Investment portfolios are collections of financial assets such as stocks, bonds, and other securities held by an individual or institution. They are designed to achieve specific investment objectives.
