RB tables $1.4bn offer for US vitamin group
By John Reynolds, marketingmagazine.co.uk, Friday, 16 November 2012 10:54AM
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.
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
- Affiliates Executive - No. 1 Agency! GoodEgg Digital Circa £25k + Exceptional Benefits, Central London
- Digital Display Manager - Leading Agency GoodEgg Digital £Neg + Great Benefits, South East England / London (Central), London (Greater)
- Senior Marketing Director - 9-12 month FTC Comedy Central £competitive, Camden, London (Greater)
- Digital Project Director - specialist integrated agency JEFFERSON £60-75k plus benefits dependent on experience, Based just outside Kingston Upon Thames
- Director Business Development - TRAVEL- HOTELS Ultimate Asset £60000 - £80000 per annum + BONUS & BENEFITS, City of London
- The rear of the Apple Watch is more interesting than the face
- Channel 4 to drop 4oD for digital service All 4
- Guardian launches three-tier membership scheme
- FT to reveal first design overhaul in seven years
- David Hasselhoff to join Sorrell, Naughton and Shing at IAB Engage 2014
- Sky boosts Sky AdSmart's targeting capabilities for advertisers