Emami eyeing to buy Paras' personal care
The company is in talks with Reckitt Benckiser which acquired Paras Pharmaceuticals in 2010
June 27, 2011 | comments ( 0 ) |
Kolkata-based Emami is in talks with global FMCG giant Reckitt Benckiser to buy the personal care business of Paras Healthcare for an estimated deal size of up to Rs 900 crore.
Last year, British consumer goods firm Reckitt Benckiser had acquired Paras Pharmaceuticals for Rs 3,260 crore (USD726 million). Emami was in the race to buy the Ahmedabad-based firm, which was selling brands like Moov, Krack and Dermicool.
"We have shown our interest in buying Paras's personal care business. We are in talks with Reckitt Benckiser. They are planning to sell off the personal care business of Paras, which is of the size of Rs 800-900 crore" Emami Executive Chairman R S Agarwal told PTI. Under the personal care portfolio, Paras Pharmaceuticals had been selling brands like Borosoft, Reconova, Livon, Set Wet and Zatak.
On the other hand, Emami has been looking to strengthen its personal care and healthcare segments and has been scouting for acquisitions that would be of strategic fit to the company. "Acquisitions are very important for us. We are in talks with lot of companies both outside and in India for our future growth. Some talks abroad are shaping up but nothing concrete is happening right now," Agarwal said.
Emami's last acquisition was in 2008 when it bought out Zandu Pharmaceuticals for around Rs 700 crore.
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