INDIA: Indian consumer products company Marico Limited has inked a deal to acquire the Paras personal care business from Reckitt Benckiser. Terms of the deal, which includes male grooming, hair care and deodorant brands such as Set Wet, Livon, Zatak and certain other personal care brands, were not disclosed.
Reckitt Benckiser (RB) acquired the brands from Paras Pharmaceuticals in April 2011. Marico said this acquisition gives it an opportunity to participate in the rapidly growing deodorant and male grooming categories in India.
“I am excited about this acquisition. It fast-forwards our journey toward creating a portfolio for the future with a significant presence in the male grooming and post wash hair care segments,” said Saugata Gupta, CEO, consumer products business, Marico.
Also included in the deal are Eclipse deodorants and beauty talc for women, Recova Age defying and fairness skin cream and Dr. Lips medicated lip balm.
During 2010-11, Marico recorded turnover of approximately $695 million, it said, through products and services sold in India and more than 25 overseas countries. The company’s portfolio of brands includes Parachute, Saffola, Hair & Care, Nihar, Mediker, Revive, Fiancée, Haircode, Camelia, Aromatic, Caivil, Hercules, Black Chic, Code 10, Ingwe, X-Men, L’Ovite and Thuan Phat. Marico is also present in the skin care category through Kaya Skin Clinics in India, the Middle East and Bangladesh, and Derma Rx in Singapore.