Reckitt buys Paras for $726 million

Reckitt Benckiser has bought Paras Pharmaceuticals for Rs32.6 billion $726 million from its shareholders, which include the founding family, the Patels, and private-equity firms Actis and Sequoia. The deal captures the dual trends of consolidation in the consumer space in Asia and private-equity firms exiting investments, which have characterised this year.

Paras is a privately owned Indian company with a portfolio of leading over-the-counter health and personal care brands in India, including Moov, a topical analgesic pain ointment  D’Cold, a leading cold and flu remedy  Dermicool, a prickly heat powder Krack, a medicated skin treatment for cracked heels and Itch Guard and Ring Guard anti fungal creams. Moov, D’Cold and Dermicool are...