Advent completed the acquisition of a 70% stake in the essential home business from Reckitt Benckiser in a $4.8bn deal.

Advent, a private equity investor, completed the acquisition of a 70% stake in the essential home business from Reckitt Benckiser, a consumer goods company, in a $4.8bn deal. "The completion of the divestment of Essential Home is a major step forward in our strategy, moving Reckitt towards becoming a simpler, more effective world-class consumer health and hygiene company focused on a core portfolio of high-growth, high-margin Powerbrands. I want to thank all our Essential Home colleagues for their contributions to Reckitt and wish them well for the future,"  Kris Licht, Reckitt CEO.