Reckitt buys India's Paras

13th Dec 2010 08:41

Household products group Reckitt Benckiser has agreed to buy privately owned Indian firm Paras Pharmaceuticals for around £460m.Reckitt, the owner of famous brands including Finish dishwasher tablets and Harpic limescale remover, said it would finance the transaction from existing facilities.Para sells over the counter health and personal care brands including cold & flu remedy D'Cold and Dermicool for prickly heat.Commenting on the acquisition, Reckitt Benckiser chief executive Bart Becht, said, "The acquisition of Paras is another step forward in RB's growth strategy in consumer health care. "It creates a material health care business in India, one of the most promising health care markets in the world with the addition of a number of strong and leading brands."With growth sluggish in Western markets such as Europe and the US, the likes of Reckitt and other big firms have been pushing into emerging markets such as India, where a growing middle class offers strong expansion opportunities.Earlier in the year, Reckitt bought SSL, the maker of Durex condoms and Scholl footcare products, a company which is also pushing into growth markets.