{"id":117931,"date":"2021-03-22T10:42:35","date_gmt":"2021-03-22T10:42:35","guid":{"rendered":"https:\/\/precoinnews.com\/?p=117931"},"modified":"2021-03-22T10:42:35","modified_gmt":"2021-03-22T10:42:35","slug":"reckitt-benckiser-considers-over-2-billion-sale-of-mead-johnson-greater-china-sources","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/reckitt-benckiser-considers-over-2-billion-sale-of-mead-johnson-greater-china-sources\/","title":{"rendered":"Reckitt Benckiser considers over $2 billion sale of Mead Johnson Greater China: sources"},"content":{"rendered":"

HONG KONG (Reuters) – British consumer goods company Reckitt Benckiser Group is considering selling its infant formula business in Greater China, in a deal that could value the business at more than $2 billion, two people with knowledge of the matter said.<\/p>

FILE PHOTO: Products produced by Reckitt Benckiser; Vanish, Finish, Dettol and Harpic, are seen in London, Britain February 12, 2008. REUTERS\/Stephen Hird<\/figcaption>

The group has hired Morgan Stanley to conduct a strategic review of its infant formula unit Mead Johnson in Greater China, the sources said, declining to comment as the information is confidential.<\/p>\n

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.<\/p>\n

They however cautioned no decision has been made and that business valuation could change due to the impact of COVID-19.<\/p>\n

Reckitt Benckiser did not immediately respond to a request for comment while Morgan Stanley declined to comment.<\/p>\n

The group announced the strategic review in February, saying multiple options were being explored.<\/p>\n

Its Greater China infant formula business represents 6% of group sales, which were almost 14 billion pounds ($19.8 billion) in 2020, up 11.8% year-on-year, Reckitt Benckiser said at the time.<\/p>\n

U.S.-headquartered Mead Johnson, which Reckitt Benckiser bought for $16.6 billion in 2017, runs a range of infant formula brands including Enfamil, Enfapro and Lactum.<\/p>\n

Laxman Narasimhan, Reckitt Benckiser\u2019s chief executive, said in February that challenges to the China business included Hong Kong\u2019s longer-than-expected border closure during COVID-19, local competition, a changing regulatory environment and lower birth rates in the country.<\/p>\n

Chinese consumers have been favouring imported infant formula since the country\u2019s 2008 baby milk contamination scandal. The top four best-selling infant formula brands on e-commerce platform JD.COM for example are all foreign.<\/p>\n

However, local brands are catching up fast with brands such as Morgan Stanley-backed Feihe gaining significant market share.<\/p>\n

China imported 335,600 tonnes of infant formula in 2020, down 2.8% year-on-year, according to the Dairy Association of China.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HONG KONG (Reuters) – British consumer goods<\/p>\n","protected":false},"author":3,"featured_media":117930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nReckitt Benckiser considers over $2 billion sale of Mead Johnson Greater China: sources - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/reckitt-benckiser-considers-over-2-billion-sale-of-mead-johnson-greater-china-sources\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reckitt Benckiser considers over $2 billion sale of Mead Johnson Greater China: sources - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"HONG KONG (Reuters) – British consumer goods\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/reckitt-benckiser-considers-over-2-billion-sale-of-mead-johnson-greater-china-sources\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-22T10:42:35+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/03\/cnewsfotor18.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/reckitt-benckiser-considers-over-2-billion-sale-of-mead-johnson-greater-china-sources\/\",\"url\":\"https:\/\/precoinnews.com\/business\/reckitt-benckiser-considers-over-2-billion-sale-of-mead-johnson-greater-china-sources\/\",\"name\":\"Reckitt Benckiser considers over $2 billion sale of Mead Johnson Greater China: sources - 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