Aims to exit home care business by end 2025 (Il Sole 24 Ore Radiocor) - London, 24 Jul - The UK consumer goods company Reckitt Benckiser said that it will seek to exit its portfolio of home care brands and the Mead Johnson Nutrition business.

It noted the the Essential Home business that includes the brands Air Wick, Mortein, Calgon and Cillit Bang, had net revenue of 1.9 billion pounds in fiscal 2023. It aims to exit the business the end of 2025 and "will consider all options to maximise shareholder value." The Mead Johnson Nutrition business, with has the brands of Enfamil and Nutramigen, "is now non-core and Reckitt will consider all strategic options to maximise shareholder value," it added.

The group said that its "allocation framework remains constant, and these actions allow the company to focus capital against brands that offer the best long-term opportunity for growth." The group "will continue to pay a progressive dividend and return surplus cash to shareholders, including excess proceeds from future transactions," it added.

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(RADIOCOR) 24-07-24 19:01:42 (0768) 5 NNNN