Marico completes Paras personal care business acquisition

FMCG major Marico on Friday said it has completed the acquisition of Halite Personal Care India, the demerged personal care business of Paras Pharma from Reckitt Benckiser .

Reckitt Benckiser had acquired Paras Pharma in December 2010, but had later said it would only focus on the company's healthcare business. The personal care business was subsequently transferred into a seperate company -- Halite Personal Care, in which Marico, which makes products like Parachute coconut oil and Saffola cooking oil, acquired 100% stake.

The stake was acquired through its wholly owned subsidiary Marico Consumer Care.
 
The biggest benefit that Marico gets from buying the personal care business is that it gets hold of three key brands -- Zatak deodorant, Set Wet styling gel and leave-on conditioner Livon, all of which are ranked among the top three brands in their respective categories.

"It fast-forwards our journey towards creating a portfolio for the future with a significant presence in the male grooming and post wash hair care segments," Saugata Gupta, CEO, consumer products business at Marico had said after announcing the acquisition in February this year.

Marico shares closed up 0.7% at Rs 183.70 on NSE on Friday.