The makers of Boro Plus, Emami, is looking to acquire Ahmedabad-based Paras Pharmaceutical, the makers of over-the-counter personal care brands such as Moov, Krack, Livon, Dermicool and Set Wet.
"Paras has some good brands and we are interested in this acquisition. We are exploring the opportunity," said Harsh Agarwal, Emami's group director. He however refused to divulge details.
Marico Ltd, another FMCG company, is also in the race for the 70 per cent stake in Paras Pharma that private equity firms Actis Advisors and Sequoia Capital India Advisors are looking to offload, reportedly for as much as $700 million (R3,262 crore).
A source said Emami is likely to make an announcement soon. The Paras Pharma spokesperson remained uncontactable.
Emami is also in talks with other companies and looking for acquisitions, though Agarwal said "it is too early to talk about numbers."