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Reckitt reaffirms acquisition strategy.
(From FT Investor (Stories))
Reckitt Benckiser, the Anglo-Dutch household products group, has reaffirmed its keenness to grow by acquisition.
Bart Becht, chief executive, said in an interview with FT Deutschland: "We have grown and prospered through our successful host of acquisitions and will continue to be driven by this strategy. We have enough cash to make a large purchase."
The world's largest maker of household cleaning products is understood to be close to winning the bidding for Schick-Wilkinson Sword, the razors business being auctioned by Pfizer, with an offer of about $850m (GBP545m).
Mr Becht said he was "not in a position to give any comments about takeover targets", but added that personal hygiene was an interesting growth market with high margins in which Reckitt had not invested enough.
He said Reckitt was on course to lift its operating profits margin and revenue growth rate for 2002.
Operating margins at the group, ...
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