Reckitt Benckiser incurs US$3.05bn loss following sale underperforming China infant formula business

CHINA – Reckitt Benckiser Group, a British consumer health, nutrition, and hygiene company,  has signed an agreement to offload its Infant Formula and Child Nutrition (IFCN) business in China to private equity firm Primavera Capital Group for $2.2 billion (US$2.68bn). Following the sale, Primavera Capital Group will own IFCN’s brands in China and also assume control of manufacturing plants in Nijmegen, the Netherlands and Guangzhou, China. Sale transaction terms also give Primavera a royalty-free perpetual and exclusive licence of the Mead Johnson and Enfa family of brands (which includes Enfinitas,…

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