Advent to acquire a 70% stake in the essential home business from Reckitt Benckiser in a $4.8bn deal.

Advent, a private equity investor, agreed to acquire a 70% stake in the essential home business from Reckitt Benckiser, a consumer goods company, in a $4.8bn deal. “As a global private equity firm with a strong track record both in executing carve-outs and in backing iconic consumer brands, Advent is well positioned to support Essential Home in the next phase of its journey. We intend to accelerate investment across the brand portfolio to drive growth and innovation, and create value for both Essential Home’s consumers and trade partners,” Nicolas Chavanne, Advent Managing Director.