Reckitt to sell homecare unit including Air Wick and Cillit Bang for $4.8bn

Reckitt Benckiser agreed to sell most of its homecare business to private equity firm Advent International for an enterprise value of up to $4.8bn (€4.12bn) as the UK consumer goods company focuses on faster-growing operations.

Reckitt Benckiser agreed to sell most of its homecare business to private equity firm Advent International for an enterprise value of up to $4.8bn (€4.12bn) as the UK consumer goods company focuses on faster-growing operations.

Reckitt said it will retain a 30% stake in the business, whose brands include Air Wick air fresheners and Cillit Bang cleaners. The enterprise value includes up to about $1.3bn (€1.1bn) of contingent and deferred consideration, the company said on Friday.