Regulatory News Service

Reckitt & Colman plc announced today that it has sold the Personal Products Division of its US subsidiary, Reckitt & Colman Inc., to a subsidiary of J.W. Childs Associates, L.P., a Massachusetts-based investment management firm, for $123 million. Of this consideration, $108m will be settled in cash on completion. The balance is covered by a subordinated note payable in seven and a half years.

Under the sale agreement, J.W. Childs acquired selected assets and liabilities of the Personal Products Division of Reckitt & Colman Inc. The sale includes well-known brands such as OGILVIE Home Permanents, CHUBS Thick Baby Wipes, WET ONES Moist Towelettes, DIAPARENE baby care products, MR BUBBLE Bubble Bath and BINACA Breath Spray and Breath Drops, which are sold primarily in the US and in a number of other markets worldwide. The transaction also includes certain product formulations as well as production and distribution facilities located in Sidney, Ohio.

In 1995 the Personal Products Division generated trading profit of approximately $10m on turnover of $110m. The net tangible assets of the division amounted to $30m at 30 December 1995. The proceeds of the disposal will be used by Reckitt & Colman to reduce net indebtedness.

"We announced our plans to divest the Personal Products Division last year," said Joseph Healy, President and Chief Executive Officer of Reckitt & Colman Inc. "The transaction is in line with Reckitt & Colman's global strategy to better focus its resources on core household product categories".

Enquiries:
Cheri Lofland
Reckitt & Colman