British nutrition products maker Reckitt Benckiser has agreed to sell its Essential Home business to private equity investor Advent International for up to $4.8 billion. Reckitt will retain a 30% equity stake in Advent’s acquisition vehicle. The deal includes around $1.3 billion in contingent and deferred consideration and is expected to close by December 31. The divestment is part of Reckitt’s strategy to focus on high-growth, high-margin Powerbrands. Essential Home generated around 2 billion pounds in revenue in 2024, representing 14% of Reckitt’s total revenue. Reckitt plans to return excess capital to shareholders, including a $2.2 billion special dividend with share consolidation.CEO Kris Licht stated that the sale will help Reckitt become a more efficient consumer health and hygiene company.

Read more at Nasdaq: Reckitt Benckiser To Divest Essential Home Business To Advent; To Retain 30% Stake