Consumer health and hygiene firm Reckitt Benckiser has announced that it is set to complete its acquisition of the Mead Johnson Nutrition Company later this week.
Following the granting of final regulatory approval, Reckitt Bencisker expects to complete the acquisition on 15 June.
The maker of Dettol and Calgon announced in February that it had agreed a deal to purchase the nutrition firm, which specialises in baby food, for $16.6 billion.
It is expected that the move will enable Reckitt to gain a larger presence in Asia. Mead Johnson has a 10% share of the baby food market, and while it is some way behind Nestlé and Danone globally, in Asia, it holds second place in the market, behind Nestlé.
Reckitt Benckiser is expecting to deliver around £200 million worth of cost savings by the end of the third year following the purchase.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.