ITC, the FMCG major, has entered into an agreement with Johnson & Johnson to acquire its brands, 'Savlon' and 'Shower To Shower', in the country. This acquisition will be ITC's first purchase in the personal care segment.
"The company entered into asset purchase agreements with Johnson & Johnson, India and Johnson & Johnson Pte, Singapore yesterday for purchase of 'Savlon' and 'Shower To Shower' trademarks and other intellectual property, respectively, primarily for use in India," ITC said in a regulatory filing to the Bombay Stock Exchange (BSE).
These agreements are subject to customary closing conditions and regulatory permissions as may be necessary, it added.
Savlon is an antiseptic brand while Shower To Shower is a personal care product brand.
For the third quarter ended December 2014, ITC reported a 10.47 per cent rise in net profit at Rs 2,635 crore as against a net profit of Rs 2,385.34 crore in corresponding year-ago period.
The Kolkata-headquartered firm's net sales increased by marginal 2.05 per cent to Rs 8,800.22 crore as against Rs 8,623.11 crore in Q3 of FY15.
Earnings from the company's FMCG business, including cigarettes, increased by 4.23 per cent to Rs 6,456.06 crore, while that from the non-FMCG business grew 0.31 per cent to Rs 9,582.95 crore.
Shares of ITC were trading 2.40 points (or 0.65 per cent) higher at Rs 373.00 per scrip during afternoon session on the BSE.