Reckitt Benckiser Acquires OTC Brands

Reckitt Benckiser Group plc (RB) agrees to acquire Paras Pharmaceuticals Limited, an Indian FMCG personal care company, for approximately INR 32.6 billion (approximately $726 million). 

Bart Becht, CEO of RB, welcomed the deal, saying, "The acquisition of Paras is another step forward in RB's growth strategy in consumer health care. It creates a material health care business in India, one of the most promising health care markets in the world with the addition of number of strong and leading brands." 

The emerging markets private equity investor Actis will sell its 63 percent holding in Paras to RB. Sequoia Capital and the remaining shareholders, including Paras founder Girish Patel and his family, will also sell their shares to RB.

Paras is the home to many of India's flagship over-the-counter brands, including Moov pain relief ointment, Krack heel care lotion, and D'Cold cold remedy. These long-standing and respected Indian health care brands will join the existing RB family, which includes Dettol, Disprin, Clearasil, Veet and Durex.