“Advent, Apollo in the Running for Reckitt’s Homecare Assets, Bloomberg News Reports” – Reuters

Advent International and Apollo Global Management are reportedly among the potential bidders for Reckitt Benckiser Group’s homecare assets, according to a report by Bloomberg News.

The British consumer goods company, known for brands such as Lysol and Air Wick, announced earlier this year that it was exploring strategic options for its homecare division. The division has an estimated value of around $2.6 billion.

Advent and Apollo are both major players in the private equity industry, with a track record of successful investments in the consumer goods sector. Their interest in Reckitt’s homecare assets signals a potentially lucrative opportunity for the companies to expand their portfolios.

The bidding process for the assets is expected to be highly competitive, with other private equity firms and possibly strategic buyers also vying for a piece of the pie. Reckitt is looking to streamline its business and focus on its core health and hygiene brands, making the homecare division an attractive target for potential buyers.

As the bidding process unfolds, industry analysts will be closely watching to see which company emerges as the winner in the race for Reckitt’s homecare assets. Stay tuned for updates on this developing story.