Reckitt completes sale of Chinese infant formula business


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Consumer goods firm Reckitt Benckiser has completed the sale, announced on 5 June 2021, of its Infant Formula and Child Nutrition business in China to Primavera Capital Group.

All conditions to completion of the transaction have been satisfied.

Commenting on the sale, Reckitt CEO Laxman Narasimhan said: 'Coming just six-and-a-half months after announcing the strategic review in February, the closing today represents a major step forward in our strategy to rejuvenate   sustainable growth.  

'Our Nutrition business is now stronger and more concentrated in attractive markets such as North America, Latin America and ASEAN.  

'We remain fully focused on executing our strategy, investing for growth and achieving our medium-term targets.'