Unilever and Hormel leading bidders for Britain's Reckitt Benckiser
18 Jul 2017 --- Speculation is mounting over Hormel and Unilever reportedly leading the pack to buy the foods division of British consumer goods maker Reckitt Benckiser.
The Anglo-Dutch conglomerate is vying with the Minnesota-based food company and canned meat producer to acquire Reckitt Benckiser with both companies considered the frontrunners in a potential deal that is expected to top US$2.9 billion.
The rumor mill has been going into overdrive over the last few days following an article in the Sunday Times claiming that unidentified sources spoke with the UK newspaper about a possible deal.
The England-based multinational consumer goods company produces health, hygiene and home products and was formed in 1999 by the merger of the UK-based Reckitt & Colman plc and the Netherlands-based Benckiser NV.
Its brands include French's Mustard, the antiseptic brand Dettol, the sore throat medicine Strepsils, the hair removal brand Veet, the immune support supplement Airborne, the air freshener Air Wick, as well as other big names like Calgon, Clearasil, Cillit Bang, Durex, Lysol, Mycil and Vanish.
In April FoodIngredientsFirst reported how Reckitt Benckiser is considering selling off its food division at an estimated US$2 billion as it prepared to acquire infant formula maker Mead Johnson Nutrition.
In a statement issued at the time, the company said it has begun a strategic review of the division where it is considering all options for the “non-core” business.
And earlier in January FoodIngredientsFirst also reported how Hormel Foods completed the sale of Farmer John and Saag’s Speciality Meat brands, along with the farming operation in California, Arizona and Wyoming to SmithField Foods for US$145m.
