Reckitt Benckiser Buys India’s Paras Pharmaceuticals Ltd
Reckitt Benckiser emerged successful in race to buy Pars in spite of 4 global drugmakers submit bids for India's Paras Pharma buy . Reckitt Benckiser Group plc (RB) today announces that it has agreed to buy Paras Pharmaceuticals Limited (Paras) forINR 32.6 billion (Indian Rupees) (approximately GBP 460 million) from the current shareholders, including the Patel family and Actis, the emerging markets private equity investor. RB will finance the transaction from existing facilities. Paras is a privately-owned Indian company with a portfolio of leading Indian over the counter Health and Personal Care brands including: Moov, the No 2 topical analgesic pain ointment, D’Cold, the No 2 cold & flu remedy, Dermicool, the No 2 for prickly heat, Krack, the No 1 medicated skin treatment for cracked heels and Itch Guard and Ring Guard anti fungal creams. In addition, Paras has a personal care business led by Set Wet, a leading hair gel and deodorant bran...