Although Mead Johnson made some progress in product innovation and e-commerce channel exploration in China, it faced structural challenges, including Hong Kong border closure, competition from local players, the changing regulatory environment, and the declining birth rates further impacted by COVID-19.
Reckitt Benckiser has signed a deal to sell its Infant Formula and Child Nutrition business in Greater China (including mainland China, Hong Kong, and Taiwan), for $2.2 billion (about 14 billion yuan), to private equity firm Primavera Capital, as the company announced on Beijing time June 61. Reckitt will retain an 8% stake in the business and is expected to receive about $1.3 billion net cash proceeds.
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