Reckitt Benckiser CEO says Adams acquisition may lead to U.S. markets
BERKSHIRE, England While there are no immediate plans to bring Boots Healthcare International across the pond to American markets, Adams Respiratory was acquired, in part, to afford Reckitt Benckiser the ability to do that, Bart Becht, Reckitt Benckiser chief executive officer, explained to analysts during a conference call last week.
“[Adams] was very strategic for us as a company because it's one of the few targets that allows us to get a healthcare infrastructure in the U.S., which we don't have. And to build that organically is extremely difficult and costly,” Becht said. “Financially it makes sense simply because the very high growth that is in that business. Clearly if this would have been an ordinary low-growth healthcare business, we would have bid a very different amount of money or we would have walked away from it. … It’s a high growth business.”
Reckitt Benckiser officially closed the Adams deal Jan. 30 in a deal valued at approximately $2.3 billion. As a result of the merger, Adams shares will be delisted and cease to trade on the NASDAQ Global Select Market.