Buyout of Paras by Reckitt Benckiser


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Case Details:

Case Code : BSTR390
Case Length : 27 Pages
Period : 2010-2011
Pub Date : 2011
Teaching Note :Not Available
Organization : Reckitt Benckiser Group Plc, Paras Pharmaceuticals Limited
Industry : Fast Moving Consumer Goods
Countries : UK, India, Global

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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"The Paras brands are well known throughout India. They include products that many Indian consumers know and love. Combined with RB’s investment, global innovation, and distribution capabilities, the Paras health care portfolio gives RB a platform for exciting new growth in India, in addition to attractive cost synergies. Girish Patel has created a set of highly successful and admired brands in the Indian market and we will build upon his success."1

- Chander Mohan Sethi, Chairman & Managing Director, Reckitt Benckiser (India) Ltd.2, in December, 2010

"Entrepreneurs now realize the real worth of what they’ve built. There is a strong desire to monetize what they own. With globalization, overseas buyers are willing to open the purse strings where they see value."3

- Raman Roy, Chairman & Managing Director, Quattro4 , in December, 2010

Uk-Based FMCG Major Buys Paras

On December 13, 2010, Reckitt Benckiser Group Plc (RB), the world’s largest producer of household products and a major player in health

and personal care products, achieved a major coup when it announced a deal with Paras Pharmaceuticals Limited (Paras), the leading company in Over-The-Counter5 (OTC) and health and personal care products in India. Under this deal, RB acquired a 100% stake in the privately held Paras for US$ 726 million.

Uk-Based FMCG Major Buys Paras cont.. - Next Page>>

1] "Reckitt Benckiser Agrees to Acquire Paras," www.act.is, December 13, 2010
2] Reckitt Benckiser (India) Ltd. is the 100% subsidiary of RB with revenue close to Rs. 20 billion.
3] T R Vivek, "Selling Out no More Taboo in India Inc," http://economictimes.indiatimes.com, December 23, 2010
4] Quattro is a India-based global business and knowledge outsourcing company.
5] Over-The-Counter (OTC) drugs refer to those which are sold without any prescription of a doctor or any other healthcare professional being necessary. For instance, Strepsils Iodex, Moov, and Vicks Action 500

  

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