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Bids, Mergers and Takeovers

Reckitt Benckiser sells food business to McCormick

18 August 2017 07:38

Consumer goods company Reckitt Benckiser has completed the sale of its food business, including the French's, Frank's RedHot and Cattlemen's brands, to McCormick.

The business was sold for $4.2 billion, subject to customary adjustments.

Reckitt Benckiser intends to use the net proceeds to reduce its debt.

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