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Reckitt Benckiser Group plc announced it has agreed to sell personal care brands acquired as part of the Paras Pharmaceuticals Limited acquisition in April 2011 to Marico Limited, a leading consumer products company in India. Financial details have not been disclosed, but the transaction is expected to conclude by the end of the second quarter of 2012.
Affected brands include Livon and Zatak, as well as others, and the transaction includes the transfer of all of the key assets of the brands, including intellectual property rights, supply agreements and third party manufacturing agreements. The deal allows Marico to gain position in the growing Indian male grooming market.