BEIJING, June 5, 2021 /PRNewswire/ — Primavera Capital Group (“Primavera”) today announces that it has signed a definitive agreement with Reckitt Benckiser Group plc (“Reckitt”), a world’s leading consumer health, nutrition, and hygiene company, to acquire the Greater China business of the Mead Johnson Nutrition Company (“Mead Johnson”, the “Company”), a global leading infant formula and nutrition company owned by Reckitt. Following the transaction, Primavera will have a royalty-free perpetual and exclusive license of the Mead Johnson brand in Greater China.
This acquisition is another milestone for Primavera in the consumer industry. Going forward, Primavera will fully support Mead Johnson’s growth in China, through innovation, operational improvement, channel optimization, and digital transformation, to further enhance its positioning and growth prospects in China’s large infant nutrition market.
Mead Johnson was founded in 1905 in Illinois, USA by Edward Mead Johnson. It is a world-renowned premium infant milk formula brand. In 2009, the Company successfully listed on the New York Stock Exchange, and in 2017 was acquired by Reckitt . Following Primavera’s acquisition, the infant formula and child nutrition business in Greater China will benefit from Reckitt’s supply resources and ongoing collaboration on global R&D innovation. The transaction is subject to customary works council consultation