Completion of Sale of Food Business to McCormick
Reckitt Benckiser Group plc
Completion of Sale of Food Business to McCormick
Slough, UK - 18 August, 2017 - Further to its announcement on 19 July, 2017, Reckitt Benckiser Group plc ("RB") is pleased to announce that it has completed the sale of its Food business ("RB Food"), including the French's, Frank's RedHot and Cattlemen's brands, to McCormick & Company, Inc. for $4.2 billion, subject to customary adjustments. As previously communicated, RB intends to use the net proceeds to reduce its debt.
Contacts
RB +44 (0)1753 217 800
Richard Joyce - SVP, Investor Relations
Patty O'Hayer - Head of Communications and Government Affairs
Brunswick +44 (0)207 404 5959
Gabrielle Silver / David Litterick
About RB Food
RB Food is a world leader in condiments and toppings, with a focused portfolio of iconic brands including French's, Frank's RedHot and Cattlemen's. Tiger's Milk, a nutrition bar brand, is also part of the transaction and has been included in RB Food.
Headquartered in Chester, New Jersey, RB Food has had a long history of delivering great taste through the highest quality, better-for-you ingredients, and has demonstrated almost 20 years of strong growth and profitability.
About RB
RB is the global leading consumer health and hygiene company. Driven by a purpose of providing innovative solutions for healthier lives and happier homes, RB has operations in over 60 countries. From the foundations of wellness and infant nutrition, to the fundamentals of a hygienic home, its global brands help people live healthier, happier lives.
RB has world leading Powerbrands which include household names such as Enfamil, Nutramigen, Nurofen, Strepsils, Gaviscon, Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet, Harpic, Cillit Bang, Mortein, Finish, Vanish, Calgon, Woolite and Air Wick.
RB's unique culture is at the heart of its success. Its drive to achieve, passion to outperform and commitment to quality and scientific excellence are manifested in the work of over 40,000 employees worldwide. RB is proud to lead the Save a Child a Minute campaign, which aims to eliminate child deaths from diarrhoea, one of the world's largest killers of children under five.
Further information
Reckitt Benckiser Group plc's LEI code is 5493003JFSMOJG48V108
This information is provided by RNS
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