RB tables $1.4bn offer for US vitamin group
Reckitt Benckiser (RB) is aiming to break into the vitamins, minerals and supplements global market by making an offer to buy US company Schiff Nutrition International.
Rakesh Kapoor: chief executive of Reckitt Benckiser
RB has made a $1.4bn (£883m) offer for Schiff, trumping a $1.2bn (£757m) offer made by German pharmaceutical company Bayer.
Schiff owns several vitamin brands, including MegaRed and Move Free. The company boasted revenue of $259m (£163m) in the 12 months ending May 31, according to its latest results.
Currently, RB has a presence in the health and hygiene sectors, but not in the fast-growing vitamin field.
Rakesh Kapoor, chief executive of RB, said: "For Reckitt Benckiser, this acquisition would provide a powerful entryway into the large and rapidly growing $30bn global VMS market. This market would be the largest consumer healthcare sector in which we operate.
"It is an ideal addition to Reckitt Benckiser's new strategic focus in global health and hygiene, and would give us immediate scale in VMS in the US. It also plays well to our consumer marketing, innovation and go to market capabilities."
Should RB's proposed takeover of Schiff go through, it would mark the group's biggest acquisition since July, when it announced a $3..9bn (£2.5bn) deal for SSL International, the maker of Dr Scholl foot products and Durex condoms.Follow @johnreynolds10
This article was first published on marketingmagazine.co.uk
Latest jobs Jobs web feed
- SHOPPER MARKETING ACCOUNT HANDLERS - London agencies - £38k-55k (perm & freelance) Judi Patton £28-£55k- plus bonus and benefits, London
- head of new business > #1 DIGITAL & CONTENT AGENCY collectivo £60k-£80k plus agency bens, Central London
- Account Director Ball & Hoolahan £55,000 per annum, London
- Senior Account Manager - [Retail / Digital] - Superb agency! £35k - £39k Fill Recruitment Ltd £35k - £39k + bonus & benefits, Central London
- Marketing Manager - FMCG - London or Home counties Stonor £45,000 - £55,000 dependent on experience , London, Essex, Bucks or Oxon
- Creative Director The Marketing Practice Up to £120k dependant on experience , East Hendred, near to Didcot in Oxfordshire