Reckitt Benckiser Group PLC mulls sale of infant formula business in Greater

Reckitt Benckiser Group PLC (LON:RB.) is mulling the sale of its infant formula business in Greater China, in a deal that could value the business at more than $2bn, Reuters reported, citing two people with knowledge of the matter.

The group has hired Morgan Stanley to conduct a strategic review of its infant formula unit Mead Johnson in Greater China, the sources said.

A sale process could start in the second quarter after the bank gets initial feedback from potential buyers, which include both strategic and private equity firms, the sources said.

Reckitt Benckiser, a leading consumer health and hygiene company, bought the whole of Mead Johnson in 2017 for $17.9 bln in cash and net debt. Mead Johnson has more than 70 products – including infant formula brands  Enfamil, Enfapro and Lactum – in over 50 countries.