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Wall Street Journal

Reckitt Benckiser to Sell Essential Home Business in $4.8 Billion Deal

Consumer-goods company Reckitt Benckiser RKT -0.48%decrease; red down pointing triangle agreed to sell its essential home business to private equity investor Advent International in a deal that values the division at up to $4.8 billion. The U.K. company has been pursuing a major overhaul of its portfolio to sharpen its focus on core brands like Lysol, Dettol and Strepsils. The plan involves exiting a portfolio of household brands such as Air Wick, Mortein, Calgon and Cillit Bang and a review of options for its baby formula maker Mead Johnson Nutrition, which together account for almost a third of the group's revenue.