(Reuters) - British consumer goods firm Reckitt Benckiser agreed to buy privately-held Indian ointments and personal care company Paras Pharmaceuticals for about $726 million, beating off rivals and paying a steep price for more access to a fast-growing market.
Paras, which clocked sales of over 4 billion rupees ($89 million) in the financial year ended March, makes over-the-counter medications, including Moov pain relief ointment, Krack heel care lotion, and D'Cold cold remedy.
The company also makes prickly heat treatment Dermicool and Itch Guard and Ring Guard fungal creams along with hair gel products and deodorant brand Set Wet.
via in.reuters.com
