Reckitt Strikes Deal Worth up to £3.6bn to Sell Cillit Bang Business
DERBY, UK, JUL 18 – Reckitt will return $2.2 billion to shareholders and retain 30% ownership as part of a strategic move to focus on high-margin Powerbrands and simplify its business.
- On Friday, Reckitt Benckiser agreed to sell a 70% stake in Essential Home, to Advent International for up to $4.8 billion.
- Amid strategic reviews, the company last year, unveiled plans to spin off Mead Johnson and sell Essential Home to focus on 11 high-growth, high-margin Powerbrands.
- A $2.2 billion special dividend will be paid, Reckitt will retain a 30% stake, and up to $1.3 billion of contingent and deferred consideration.
- Shares in Reckitt lifted 2% on Friday, while JPMorgan analysts said the deal’s financials were weaker than expected.
- Beyond the transaction, the company anticipates one-off separation costs of about $800 million, mainly in 2026, and Reckitt expects the deal to close by the end of 2025.
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The British Group of Consumer Goods has carried out a major reform of its portfolio to deepen the focus on brands that stimulate most of its sales
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Reckitt strikes deal worth up to £3.6bn to sell Cillit Bang business
Advent International will buy a 70% stake in Reckitt’s essential home business, which also includes brands such as Air Wick. Household goods giant Reckitt Benckiser has agreed a deal worth up to 4.8 billion US dollars (£3.6 billion) to sell its majority stake in its Cillit Bang and Calgon arm. Private equity firm Advent International will buy a 70% stake in Reckitt’s essential home cleaning products business, which also includes brands such as A…
Reckitt sells majority stake in Essential Home to Advent
Consumer goods company Reckitt has sold a 70 per cent stake in its Essential Home portfolio to private equity investor Advent in a deal valued at US$4.8 billion. Essential Home’s portfolio includes Air Wick, Calgon, Woolite, Cillit Bang, Resolve, Sole and Easy-Off, as well as around 75 other brands across over 70 markets. Last year, the business generated approximately $2.6 billion of net revenue, about 14 per cent of Reckitt’s total revenue. Th…
Reckitt offloads multi-billion dollar household goods unit
British consumer goods group Reckitt on Friday said it had agreed to sell its home products business, including cleaning product brand Cillit Bang, to US private equity group Advent. The pair agreed a deal that values the Essential Home business at up to $4.8 billion. Reckitt said it would retain a 30-percent stake in the unit whose other brands include freshener Air Wick and washing machine care product Calgon. Reckitt chief executive Kris Lich…
The British consumer goods giant Reckitt sells its household business to the US investment fund Advent. Reckitt will retain a 30 percent share of the business, including the cleaners Cillit Bang and Calgon as well as the air freshener Air Wick.
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