London — Reckitt Benckiser Group is considering a sale of its food business, which makes French’s mustard and tomato sauce, to help pay for the $16.6bn acquisition of infant-formula maker Mead Johnson Nutrition. Reckitt will begin a review of the business, which it called "noncore" on Monday. With £411m in sales in 2016, French’s Foods accounted for 4% of Reckitt’s total revenue. The possible sale of the food unit comes amid a reshuffling of portfolios at large global consumer companies, many of which are experiencing a slowdown in sales growth for stalwart brands. Strategic Review Unilever had launched a strategic review after fending off a takeover approach from Kraft Heinz and a sale of its spreads business was one option, said people familiar with the situation. Reckitt is focusing on businesses such as Dettol and Durex, plus the Enfamil baby formula brand it is getting from the Mead Johnson deal. While preparing the food unit for a possible sale, Reckitt said it had a "history ...
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