Consumer goods firm Reckitt Benckiser Group PLC’s home care brands up for sale could fetch a lower price than hoped, Bloomberg reported on Friday.
Citing people familiar with the matter, Bloomberg reported possible suitors, including Lone Star Funds and Advent International, put valuations at a range of £3 billion to £4 billion. This is lower than the £6 billion eyed, Bloomberg reported.
The sale process also includes Apollo Global Management Inc, Bloomberg added.
US tariff concerns have hit the sale process, Bloomberg added. It reported that a Reckitt spokesperson said the firm is still committed to the sale process.
Reckitt in July announced plans to streamline its business, which could see the sale of famous home care brands such as Air Wick and Calgon.
It said it hoped to ‘reshape’ the business, creating an organisation, ‘with one of the strongest growth and margin profiles among its peer group’.
Reckitt plans to focus on a portfolio of ’powerbrands’, which it defined as high-growth, high-margin businesses that it thinks have the potential for long-term growth.
These include Mucinex, Strepsils, Gaviscon, Nurofen, Lysol, Dettol, Harpic, Finish, Vanish, Durex and Veet.
Reckitt had started early discussions with some of the potential suitors for its home care assets, which could fetch more than £6 billion, Bloomberg reported in September.
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