Client items large Reckitt Benckiser has confirmed its acquisition of child system agency Mead Johnson ought to be accomplished by the tip of September.
The announcement got here as the corporate, whose manufacturers embrace Dettol, Durex, and French’s ketchup and mustard, reported flat first quarter gross sales.
But it surely stated it was on monitor to hit its full 12 months gross sales development goal of three%.
Earlier this month Reckitt introduced a “strategic overview” of its meals enterprise.
On the time the group stated it was contemplating “all choices” for the unit, which incorporates French’s mustard and sauce merchandise.
This might result in the sale of the meals division to fund the $17bn (£13.2bn) acquisition of Mead Johnson, the world’s second largest child system agency.
Child milk system is massive enterprise. Globally gross sales have been value $41bn in 2014, based on Euromonitor, with Asia the quickest rising area.
Getting extra gross sales in that area was a significant motive Reckitt gave for its bid for Mead Johnson.
Reckitt merchandise additionally embrace Dettol, Cillit Bang cleansing items and painkiller Nurofen.
Friday’s buying and selling replace for the primary three months of 2017 confirmed as soon as foreign money fluctuations, acquisitions and disposals have been taken into consideration, gross sales have been flat at £2.6bn.
A very good efficiency in growing markets and the hygiene enterprise didn’t offset declines in Europe and within the dwelling merchandise enterprise.
Reckitt was additionally damage by the continued fallout from weak markets in Europe and North America, a South Korean security scandal and a failed new Scholl product.
Nonetheless, reported gross sales have been up by 15%.