Reckitt Benckiser completes Paras acquisition

British consumer goods major Reckitt Benckiser (RB) on Wednesday said it has completed the acquisition of Ahmedabad-based FMCG firm Paras Pharmaceuticals after getting necessary regulatory clearances.

The company had, in December last, announced that it will acquire Paras, the maker of brands such as Moov, Krack and D'cold, for Rs 3,260 crore.

"The acquisition of Paras represents another step forward in RB's growth strategy in consumer healthcare. It creates a material healthcare business in India, one of the most promising healthcare markets in the world with the addition of a number of strong and leading brands," the company said in a statement in Mumbai.

RB - the maker of Dettol, Lysol, Bang, Vanish, and Veet - would now directly enter the fast-growing personal care categories such as deodorants, haircare products, anti-ageing creams and over-the-counter healthcare products with acquisition of Paras, a dominant player in these categories.

The personal care business is led by Set Wet, a leading hair gel and deodorant brand.