Reckitt seals deal for India's Paras

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The Independent Online

Houshold goods group Reckitt Benckiser is set to expand its emerging market operations with the 32.6bn rupee (£454.3m) acquisition of India's Paras Pharmaceuticals. The deal was announced yesterday after Reckitt beat-off competition for the company from rivals including Emami. Paras is privately owned, and has a portfolio of over-the-counter health and personal care brands on sale in India including cold and flu remedy D'Cold, analgesic pain ointment Moov and anti-fungal creams Itch Guard and Ring Guard. Reckitt Benckiser chief executive Bart Becht said the deal was "another step forward in Reckitt's growth strategy in consumer health care". He said the attraction was that the Paras business had "extremely good growth potential".