£1bn bid for global firm’s personal care portfolio
Consumer goods giant Reckitt Benckiser RB) is reportedly in talks to sell off its portfolio of prominent personal care brands including Clearsil, Veet and E45.
The firm which can trace its roots in Hull back to 1840 is apparently accepting offers from a small number of private equity firms, including Clayton Dublier & Ride who’s £1bn bid is being overseen by the former Vindi Banga, the former president of global foods, home and personal care at Unilever.
The sale of this portfolio, which also includes Scholl footcare products, is not guaranteed with Sky News sources suggesting that RB would only sell if offers were “significantly attractive”.
RB currently employs over 1,400 people in Hull, with half of global R&D roles located there. Last December the business also committed £200m to improve its manufacturing facility in the city and launch a new Science and Innovation Centre that would put the it at the forefront of consumer health innovation.
The business’ association with Hull dates back to the 19th century when, when Isaac Reckitt moved to city and employed 25 people at his business that manufactured household products. Since then the business has grown and merged with Dutch company Benckiser NV to create what is now global business valued at £48 billion.
