Marico buys Paras range from Reckitt | business | Hindustan Times
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Marico buys Paras range from Reckitt

business Updated: Feb 15, 2012 21:14 IST
HT Correspondent

FMCG major Marico has acquired some personal care brands of Dettol-maker Reckitt Benckiser (RB) such as Set Wet, Livon, Zatak and some others, which RB had acquired from Paras Pharmaceuticals last April for an estimated Rs 3,260 crore.

The Paras personal care business is expected to achieve a turnover of over Rs 150 crore during FY12. The acquisition of this business is expected to further reduce Marico’s dependence on edibles oils and hair oils.

“The acquisition fast-forwards our journey towards creating a portfolio for the future with a significant presence in the male grooming and post wash haircare segments,” said Saugata Gupta, CEO, consumer products business, Marico.

The transaction envisages transfer of all key assets including intellectual property rights, supply agreements and third-party manufacturing agreements, for an undisclosed consideration.

These assets are in the process of being transferred to a separate company in which Marico will acquire 100% shares. The closing of the transaction is scheduled to take place over the next few months.