Danone is said to be “discreetly exploring” a buyout of the American brand, which was purchased by Reckitt Benckiser in 2017 for £12.5 billion.
Now, with Mead Johnson facing sluggish growth figures and various lawsuits in the US, reports suggest Reckitt has entered into talks with Danone over a possible sale.
French news outlet La Lettre states that Danone has hired New York bank Centerview Partners to assess its options going forward.
Notably, Danone had previously been linked to Mead Johnson before its Reckitt days, playing down reports that it was exploring a bid as far back as September 2009.
“While the fit has some logic, the litigation risk, valuation uncertainty and earnings per share accretion remain key question marks,” Barclays analyst Warren Ackerman said.
“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 materially strengthen Danone’s position in the US and complement its existing global footprint in Latin America and Asia-Pacific. That said, Mead’s growth track record is mixed.”
The infant formula firm was acquired by Reckitt as part of a diversification drive but, close to a decade later and amid a complex economic backdrop, the group is opting to divest non-core assets as it chases profitable growth.
The consumer goods multinational sold its Essential Home business last year, which includes household names Cillit Bang and Air Wick, to private equity outfit Advent International at an enterprise value of up to £3.6 billion.
