The carve-out of Essential Home will establish a dedicated global home care platform, built around an iconic portfolio of trusted brands – including Air Wick, Calgon, Woolite, Cillit Bang, and SBP – that are widely recognized and trusted by consumers worldwide.
The transaction values Essential Home at an enterprise value of up to US$4.8 billion, including up to US$1.3 billion in contingent and deferred consideration. As part of the transaction, Reckitt will retain a 30% minority interest, reaffirming its confidence in the company’s strong value creation potential. Advent and Reckitt are aligned in their strategic vision and share a commitment to enhancing the company’s long-term performance.
Under Advent’s ownership, Essential Home will operate as an independent business, building on the solid foundations laid by Reckitt over the past decade. Advent will focus on increased investment in brand equity, product innovation, and marketing, with the goal of enhancing the consumer experience and strengthening partnerships with retailers.
Houthoff advises Advent on its agreement to invest in Reckitt’s Essential Home portfolio. The Houthoff team involved is led by Richard Witvliet and further consists of Grafton Cederburg, Jetty Tukker, Jasmijn Harms, Anouk Boutens, Jeroen van Mourik, Oscar van Angeren, Myrthe Prinsze, Anneke Verbeek, Romy Groot Baltink, Zinke Lansink, Thomas Boekhout, Stijn de Heer, Ewoud van der Leek, Noah Graves, Marthe Bollen, Iris van Bragt and Diede van der Voort.
