Comments
After a competitive bidding process, FMCG major Marico has acquired the personal care brands of Paras Pharma from Reckitt Benckiser for an estimated $100 million (Rs 493.6 crore). Marico will now own Paras brands such as Set Wet, Livon, Zatak and certain other personal-care brands. The Paras personal care business is expected to achieve a turnover of over Rs 150 crore this fiscal.
Main categories
Mr Milind Sarwate, Group CFO, Marico, stated, “We will fund the acquisition through a judicious mix of internal accruals, equity and debt.” The Paras brands exist in categories such as hair gels (25 per cent share), male deodorants (6 per cent share) and leave-on hair serum (Livon, with a 68 per cent share). In fact, deodorant will be the new category which will be added to Marico's existing categories.
Mr Saugata Gupta, CEO, Consumer Products Business, Marico, said, “The Paras brands exist in categories of the future and are growing at 20 per cent. We will be re-aligning these ‘youth-oriented' brands with our international business.”
The Marico scrip was up by 2.04 per cent and closed at Rs 165.20 on Wednesday on the BSE.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.