Belfast Telegraph

Reckitt Benckiser announces review of 'non-core' food business amid sale reports

Consumer goods giant Reckitt Benckiser has confirmed it has begun a strategic review of its food business, which includes French's mustard and Frank's Red Hot sauce.

The company, which also owns Durex and Dettol, said it is exploring "all options" for the unit following reports that it had put the unit up for sale.

Reckitt said in a stock market statement: "Further to recent press speculation, Reckitt Benckiser is announcing that we are beginning a strategic review of our food business.

"French's Food is a truly fantastic business with great brands, people and a history of outperformance. It is nevertheless non-core to RB. We have therefore decided to initiate a strategic review of Food where we will explore all options for this great business."

The food business is reportedly valued at £2 billion and its sale could be used to help reduce debt.

In February, Reckitt announced that it is acquiring US baby formula maker Mead Johnson in a 17.9 billion US dollars (£14.2 billion) deal, which includes 1.2 billion US dollars of debt.