Danone is weighing up a purchase of infant nutrition business Mead Johnson, according to French media reports.
Reckitt Benckiser, which bought Mead Johnson in 2017 for $17bn, has entered talks with Danone as it reviews all strategic options for the infant formula company, as reported by Bloomberg France and La Lettre.
Poor growth and ongoing litigation have plagued the business since it was acquired in a diversification drive at Reckitt, which is itself now in the midst of cutting off non-core assets to drive profitable growth.
Last year, it sold its Essential Home business, including brands Cillit Bang and Air Wick, to private equity firm Advent International at an enterprise value of up to $4.8bn.
A purchase of Mead Johnson by Danone “has some logic”, according to Barclays’ Warren Ackerman, who added that the rumours seemed more like early exploration than an imminent transaction.
“Danone is already a leading global player in early-life nutrition, and recent performance has been solid with 2025 organic sales growth of 7.4%. While infant formula recalls have weighed on sentiment at the start of 2026, the underlying category outlook is still strong for Danone.
“Mead is a key competitor, and an acquisition would materilaly strengthen Danone’s position in the US and complement its existing global footprint in LATAM and APAC. That said, Mead’s growth track record is mixed.”
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