RSS   Newsletter   Contact   Advertise with us

Reckitt Benckiser agrees $4.2 billion price for food business with McCormick

Staff Writer | July 19, 2017
Reckitt Benckiser has agreed to sell its food business for $4.2 billion to Schwartz spices owner McCormick.
Reckitt Benckiser
Acquisition   Another step towards transforming RB
In April Reckitt's chief executive Rakesh Kapoor kicked off a "strategic review" of its non-core food business.

On Wednesday morning, with McCorick having confirmed the deal overnight, Kapoor said: "Our French's Food business is a true reflection of RB's strengths - a portfolio of great brands driven through a culture of innovation by passionate people to deliver consistent outperformance."

Following the acquisition of Mead Johnson's baby food business, he said the French's sale "marks another step towards transforming RB into a global leader in consumer health and hygiene".

McCormick chairman and chief executive officer Lawrence Kurzius said: "The acquisition of RB Foods strengthens McCormick's flavour leadership with the addition of the iconic French's and Frank's RedHot brands to our portfolio, which will become our number two and number three brands, respectively."


 

MORE INSIDE POST