Advent, Apollo among potential bidders for Reckitt’s homecare assets, Bloomberg News reports

(Reuters) -Private equity groups Advent International and Apollo Global are among firms considering a potential buyout of consumer goods company Reckitt’s homecare assets, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Britain-based Reckitt announced plans in July to divest its home care portfolio, which includes Air Wick air fresheners and Cillit Bang cleaner, by the end of 2025.

The London-listed company is working with Morgan Stanley to sell its brands, targeting a valuation of more than 6 billion pounds ($7.74 billion), according to the report.

Clayton Dubilier & Rice and PAI Partners are also among interested parties for the British firm’s assets, the report added.

Reckitt, which has also been considering options for its litigation-hit Mead Johnson Nutrition business, plans to refocus on its healthcare and hygiene as part of the broad organizational review.

Apollo did not immediately respond to a Reuters request for comment.

PAI Partners and Advent International declined to comment on the report.

($1 = 0.7756 pounds)

(Reporting by Raechel Thankam Job and Judes Jospeh; Editing by Shinjini Ganguli, Tasim Zahid and Mohammed Safi Shamsi)

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