Reckitt Benckiser reviewing major products

Consumer goods giant Reckitt Benckiser has confirmed it has begun a strategic review of its food business, which includes French's mustard and Frank's Red Hot sauce.
By The Newsroom
Published 3rd Apr 2017, 09:30 BST
Updated 8th Apr 2017, 22:20 BST
NEWS 24.07.14 - Images can be pooled to other media outlets - The Chancellor of the Exchequer George Osborne paid a visit to Reckitt Benckiser in Hull to announce major investment in the city. From left are, Reckitt Benckiser CEO Rakesh Kapoor, Chancellor of the Exchequer George Osborne and Rosanna Laycock in the labratory. Picture: Jack Harland Prints can be ordered from www.thisisphotosales.co.uk/hullandeastriding or telephone 08444 060 910NEWS 24.07.14 - Images can be pooled to other media outlets - The Chancellor of the Exchequer George Osborne paid a visit to Reckitt Benckiser in Hull to announce major investment in the city. From left are, Reckitt Benckiser CEO Rakesh Kapoor, Chancellor of the Exchequer George Osborne and Rosanna Laycock in the labratory. Picture: Jack Harland Prints can be ordered from www.thisisphotosales.co.uk/hullandeastriding or telephone 08444 060 910
NEWS 24.07.14 - Images can be pooled to other media outlets - The Chancellor of the Exchequer George Osborne paid a visit to Reckitt Benckiser in Hull to announce major investment in the city. From left are, Reckitt Benckiser CEO Rakesh Kapoor, Chancellor of the Exchequer George Osborne and Rosanna Laycock in the labratory. Picture: Jack Harland Prints can be ordered from www.thisisphotosales.co.uk/hullandeastriding or telephone 08444 060 910

The company, which also owns Durex and Dettol, said it is exploring “all options” for the unit following reports that it had put the unit up for sale.

Reckitt said in a stock market statement: “Further to recent press speculation, Reckitt Benckiser is announcing that we are beginning a strategic review of our food business.

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“French’s Food is a truly fantastic business with great brands, people and a history of outperformance. It is nevertheless non-core to RB. We have therefore decided to initiate a strategic review of Food where we will explore all options for this great business.”

The food business is reportedly valued at £2 billion and its sale could be used to help reduce debt.

In February, Reckitt announced that it is acquiring US baby formula maker Mead Johnson in a 17.9 billion US dollars (£14.2 billion) deal, which includes 1.2 billion US dollars of debt.

In 2014 Reckitt unveiled its plans for a £100m site that will bring hundreds of jobs to Hull. The firm said the research and development (R&D) site will become “a magnet for talent”. The £100m Centre for Scientific Excellence, to be based at Dansom Lane, is the largest single investment the business has made to date. It has been supported by a £6m grant from the UK Government Regional Growth Fund

Related topics:FoodHull