Reckitt unveils plans to slim down portfolio

Consumer goods giant Reckitt said it was slimming down its portfolio to focus on core businesses and offloading several home care brands.

The Durex and Dettol maker said it would look to sell brands including Air Wick, Mortein, Calgon and Cillit Bang. Its Mead Johnson Nutrition business, which makes Enfamil and Nutramigen, is now also up for sale.

"These actions allow the company to focus capital against brands that offer the best long-term opportunity for growth. Reckitt will continue to pay a progressive dividend and return surplus cash to shareholders, including excess proceeds from future transactions," the company said on Wednesday.

Reporting by Frank Prenesti for Sharecast.com