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Will pay down debt and focus on wellness.
July 19, 2017
By: TOM BRANNA
Reckitt Benckiser finally jettisoned its food business after shopping the unit for several years. RB sold the business, which includes French's Mustard and Frank's Red Hot, to McCormick & Co for $4.2 billion. RB will use proceeds of the sale to pay down the debt it acquired when it acquired Mead Johnson Nutrition for nearly $18 billion. “Following the acquisition of Mead Johnson Nutrition, this transaction marks another step towards transforming RB into a global leader in consumer health and hygiene,” said RB CEO Rakesh Kapoor.
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