In Illinois, Mead Johnson Nutrition Company has agreed to be acquired by Reckitt Benckiser Group plc, the world’s leading consumer health and hygiene company, for $90 per share; a transaction valued at approximately $17.9 billion. Mead Johnson will add globally recognized brands like Enfamil and Nutramigen to Reckitt Benckiser’s portfolio of leading consumer health brands.
“Mead Johnson’s geographic footprint significantly strengthens our position in developing markets, which account for approximately 40% of the combined group’s sales, with China becoming our second largest ‘Powermarket,” noted RB’s Chief Executive Officer, Rakesh Kapoor. “We are confident that our deep understanding of consumer needs and our expertise in scaling global brands will deliver significant growth for the MJN portfolio.”
The final closing of this transaction is subject to customary conditions, including approval by shareholders of both Mead Johnson and RB and regulatory approvals, and is expected to occur during the third quarter of 2017.