Reckitt Benckiser Divests Food Business

U.K.-based Reckitt Benckiser Group plc announced it is selling its food business (RB Food) to McCormick & Company for $4.2 billion. The RB Food (Chester, N.J.) condiments and toppings line includes French's, Frank's RedHot and Cattlemen's brands. The nutrition bar Tiger’s Milk will be included in the cash-free, debt-free deal. Divestiture of its food business marks another step in RB’s transformation into a consumer health and hygiene company. It acquired infant formula firm Mead Johnson Nutrition in February for $16.7 billion.