Reckitt completes sale of IFCN business in China

We are pleased to announce that we have today completed the sale, announced on 5 June 2021, of our Infant Formula and Child Nutrition (“IFCN”) business in China^[1] to Primavera Capital Group (“Primavera”).

All conditions to completion of the transaction have been satisfied.

Commenting on the sale, Reckitt CEO Laxman Narasimhan said:

“Coming just six-and-a-half months after announcing the strategic review in February, the closing today represents a major step forward in our strategy to rejuvenate sustainable growth.  Our Nutrition business is now stronger and more concentrated in attractive markets such as North America, Latin America and ASEAN.  We remain fully focused on executing our strategy, investing for growth and achieving our medium-term targets.

“To those Reckitt team members who will start a new chapter today, I want to thank you for all of your contributions to Reckitt and wish you well.”

^{[1] Mainland China, Taiwan, Hong Kong}