Divestiture • Consumer Products

Primavera Capital Group Acquires Mead Johnson Nutrition Co. - Greater China Business

On June 5, 2021, private equity firm Primavera Capital Group acquired consumer products company Mead Johnson Nutrition Co. - Greater China Business from Reckitt Benckiser Group

Acquisition Context
  • This is Primavera Capital Group’s 1st transaction in the Consumer Products sector.
  • This is Primavera Capital Group’s 3rd transaction in the United States.
  • This is Primavera Capital Group’s 1st transaction in Illinois.

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M&A Deal Summary

Date June 5, 2021
Target Mead Johnson Nutrition Co. - Greater China Business
Sector Consumer Products
Buyer(s) Primavera Capital Group
Sellers(s) Reckitt Benckiser Group
Deal Type Divestiture

Target Company

Mead Johnson Nutrition Co. - Greater China Business

Glenview, Illinois, United States
Mead Johnson's Greater China Business is a long-established and renowned multinational infant and children nutrition brand. Mead Johnson entered China in 1993 and has developed a broad and deep product portfolio with core brands such as Enfinitas enjoying high brand awareness.
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Buyer Overview 1

DESCRIPTION

Primavera Capital Group is a private investment firm focused on private equity and special situations opportunities in China. The Firm employs a flexible strategy of growth capital, control-oriented, and restructuring investments and seeks to create long-term value by working closely with portfolio companies to improve operational efficiency, competitiveness, and earnings growth. Primavera Capital Group was established in 2010 and is based in Beijing.


Deal Context for Buyer #
Overall 8 of 10
Sector: Consumer Products 1 of 1
Type: Divestiture 1 of 1
State: Illinois 1 of 1
Country: United States 3 of 3
Year: 2021 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-21 Junlebao Dairy

Shijiazhuang, China

Junlebao is principally engaged in yogurt manufacturing. As a yogurt manufacturer in Northern China, it has taken a share in the country’s low temperature refrigerated active lactic acid bacteria beverage market. Junlebao Dairy is based in Shijiazhuang, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-21 Envision Energy

Shanghai, China

Envision Energy is an intelligent IoT operating system, EnOS, currently managing 100GW of energy assets globally. Integrating Sonnen, ChargePoint, AutoGrid, and Bazefield etc., Envision is building a comprehensive global energy IoT and smart city ecosystem. Envision Energy was founded in 2007 and is based in Shanghai, China.

Buy -

Seller Profile 1

SELLER

Reckitt Benckiser Group

Slough, United Kingdom

Category Company
Founded 1819
Sector Consumer Products
Employees37,900
Revenue 14.2B GBP (2024)
DESCRIPTION

Reckitt Benckiser Group is a global consumer health and hygiene company. Reckitt Benckiser Group has operations in over 60 countries and its health, hygiene and home portfolio is led by global brands that include Nurofen, Strepsils Gaviscon, Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet, Harpic, Cillit Bang, Mortein, Finish, Vanish, Calgon, Air Wick, Woolite and French’s. Reckitt Benckiser was founded in 1819 and is based in Slough, United Kingdom.


Deal Context for Seller #
Overall 6 of 6
Sector: Consumer Products 3 of 3
Type: Divestiture 4 of 4
State: Illinois 1 of 1
Country: United States 3 of 3
Year: 2021 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Reckitt Benckiser - Scholl

Slough, United Kingdom

Reckitt Benckiser's Scholl produces a wide range of skin care products, insoles and treatment solutions for targeted foot conditions.

Sell -