Recently, Reckitt Benckiser, a London-listed company, has announced its decision to sell off a portfolio of home care brands, including Air Wick air fresheners and Cillit Bang cleaning products. This move is part of the company’s strategy to refocus on health and hygiene products. The portfolio, which generated £1.9 billion in combined revenue last year, includes other well-known brands such as Calgon dishwasher tablets and Mortein insecticides. The sale is expected to be completed by the end of next year.
Additionally, Reckitt plans to offload its Mead Johnson baby food business, acquired in 2017 for $17.9 billion (£13.9 billion), including debt. This decision follows an October 2023 update, the first major move under new chief executive Kris Licht, which highlighted the company’s intent to “sharpen and improve” its vast product range.
From the start of next year, the home products business will be managed by a separate, dedicated team of directors until the sale is finalized. CEO Kris Licht stated, “Today I am pleased to announce a set of actions to significantly sharpen our portfolio and simplify our organisation for accelerated growth and value creation.”
Reckitt reported that in the first half of 2024, operating profit fell by 4.3% year on year to £1.68 billion, and revenue decreased by 3.7% to £7.17 billion. Among these, the Health division’s net revenue reached £2.941 billion, an increase of 1.3% year on year. Dettol achieved sales growth in the first half of the year and recorded double-digit growth in China.
