Friday, February 03, 2017

Owner of Vanish wants to buy Sustagen manufacturer

The British multinational Reckitt Benckiser, which specializes in cleaning products and own brands such as See and Vanish, confirmed it is in talks to buy baby food maker Mead Johnson Nutrition, which holds the brand Sustagen. The move would boost the consumer products giant of the UK to the center of the arena of healthy products.
Reckitt has announced that it is in advanced negotiations to make the acquisition, at a cost of $90 per share, a premium of nearly 30 percent on the price of the paper before the "The Wall Street Journal" report on negotiations earlier in the day. This unit price, the total value of the deal would be about $16.7 billion, said Reckitt, whose market value on Wednesday (1st) reached US $60 billion.
Companies "are currently involved in a period of due diligence and contract discussion," said Reckitt. There is no guarantee that an agreement will be reached, the company warned.
Mead Johnson, based in Glenview, Illinois (USA), makes a variety of nutritional products, including Enfamil (infant formula) and Sustagen (milk supplement for children).
Its net sales reached $3.7 billion in 2016, a fall of 8% a year. Half of the company''s sales come from Asia, other 17% in Latin America and the rest of North America and Europe.
Reckitt Benckiser, based in Slough, England, comprises consumer brands like Lysol (cleaner spray), Durex (condoms), Strepsils (PADS) and Scholl (for foot care). The company, which has yet to release the results of 2016, but in 2015 sales were $11.1 billion.
Supermercado Moderno - 02/02/2017
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