Reckitt Benckiser Group Plc has begun a sale process for its infant nutrition business in what’s set to be one of the British consumer goods firm’s largest-ever disposals, people with knowledge of the matter said.
The London-listed company, which sells brands including Enfamil formula, sent out marketing materials to potential buyers this month, the people said. Reckitt could seek as much as $10 billion for the unit, according to the people, who asked not to be identified because the information is private.
Bids for the business, whose biggest operations are in the U.S., are expected at the end of May, the people said. It could attract interest mostly from private equity firms, the people said.