Unilever will not get Reckitt Benckiser's food division

Reckitt Benckiser has put its food division which besides French's includes Frank's Red Hot and numerous other brands up for sale in an effo

Reckitt Benckiser has put its food division which besides French's includes Frank's Red Hot and numerous other brands up for sale in an effo

Reckitt Benckiser, on the other hand, will hope that proceeds from the sale will help pay off debts incurred after agreeing to buy maker Mead Johnson in a deal worth $16.6 billion.

The FTSE 100 (INDEXFTSE:UKX) has opened higher today buoyed by the news that Reckitt Benckiser (LON:RB) has sold its food business to USA company McCormick & Co Inc.

The acquisition has enabled McCormick's business to become the leading group for condiment, spice and seasoning needs, said Lawrence Kurzious, chief executive of the former Premier Foods suitor, which is know for popular its seasonings, blends, food colourings and more mainly in the US.

U.S. based McCormick & Co is paying $4.2bn for the business, which includes French's mustard.

Slough-based Reckitt Benckiser has completed its $4.2bn (£3.2bn) sale of its food business to the United States owner of the Schwartz herbs and spices brand.

Shore Capital analyst Darren Shirley says Reckitt "is achieving a very attractive valuation for a North American food business, in our view".

Dangers of artificial sweeteners confirmed
It could be by justifying a second helping of dinner because they saved the 165 calories they would have got from a can of Coke. But researchers have now linked them to weight gain and increased risk of diabetes , high blood pressure and heart disease .

Shares in Reckitt Benckiser were up 1.8% at 7,949.00 pence on Wednesday morning.

"Following the acquisition of Mead Johnson Nutrition, this transaction marks another step towards transforming RB into a global leader in consumer health and hygiene, ensuring we continue to deliver for shareholders and give people innovative solutions for healthier lives and happier homes".

The deal will create a combined group with annual sales of around $5-billion. The hot sauce category will continue to see robust growth, with opportunities for expansion, McCormick said in the statement.

Tower operator Crown Castle International Corp said it would buy privately held Lightower Fiber Networks for about $7.1 billion in cash to expand its fiber footprint in urban areas of the USA northeast.

The acquisition is contingent on customary approvals and is expected to close during the third or fourth quarter of McCormick & Co.'s fiscal 2017. McCormick plans to fund the deal with a combination of equity and debt, and said it has obtained committed bridge financing.

Incidentally, McCormick might have felt it could afford the luxury of a bigger price today having dodged a bullet with Premier.

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