Marico Bought Paras Pharma Personal Care Brands from Reckitt Benckiser

Indian FMCG [Fast Moving Consumer Goods] major Marico on 15 February 2012 bought the Paras Pharmaceuticals’ personal care arm from British consumer care giant Reckitt Benckiser.

Total value of the deal is estimated to be around Rs.600 to 650 cr. Though, the Reckitt Benckiser had demanded Rs. 900 cr. for the deal. Reckitt Benckiser had acquired Paras Pharma in December 2010 for Rs.3,260 cr., in one of the biggest acquisitions in the Indian consumer goods sector.

The agreement will be fully materialized in next two to three months. Paras Brands include Set Wet hair styling gel, Livon hair conditioner and Zatak deodorants.

According to industry estimates, the male grooming product segment in India, including pre- and post-shaving products, men’s toiletries, skin care and hair care products, is close to Rs 3,000 crore in size. The current acquisition is the part of Marico’s strategy to acquire maximum stake in the rapidly growing market.