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Added: 6th March 2019 by RB
RB enhances its consumer health position with the completion of its acquisition of the Mead Johnson Nutrition Company
RB (Reckitt Benckiser) is pleased to announce the acquisition of the Mead Johnson Nutrition Company.
The transaction takes RB to a global market leadership position in consumer health and hygiene. Mead Johnson brings the addition of two infant & child nutrition Powerbrands Enfa and Nutramigen, and is a natural extension of RB’s existing health portfolio which is trusted around the globe by millions of consumers.
Rakesh Kapoor, RB chief executive, said: “The closure of the acquisition marks an inflection point in RB’s evolution to become a leader in consumer health and hygiene. By combining the best of RB’s global scale with MJN’s science-based innovation, RB is well positioned to deliver further value for all stakeholders. We continue to execute on our strategy of providing innovative health solutions for healthier lives and happier homes to millions of people around the world."
Mead Johnson will initially operate as a separate division within RB and be led by Aditya Sehgal, who joins RB’s Executive Committee. Aditya’s previous roles included responsibility for RB’s operations in China & North Asia, RB’s global health care division and RB’s North American business. The Mead Johnson division will continue its mission to nourish the world’s children for the best start in life.
Mead Johnson’s infant and children’s nutrition business will increase RB’s revenues in consumer health by approximately 90%, as well as increasing its developing market scale by approximately 65%.
RB expects the acquisition to be accretive to adjusted diluted earnings per share in the first full year following completion and double-digit accretive by the third full year following completion. The post-tax return on invested capital is expected to exceed RB’s cost of capital by the fifth full year following completion.