The company said it will buy 63 per cent stake of Paras Pharma held by emerging markets private equity investor Actis, along those of Sequoia Capital and the remaining shareholders, including Paras founder Girish Patel and his family.
Paras is a privately-owned firm with a portfolio of over-the-counter health and personal care brands including, Moov, D’Cold, Dermicool, Krack, Itch Guard and Ring Guard. It also has a personal care business led by Set Wet, a leading hair gel and deodorant brand.
For the fiscal year ended March 2010, Paras had a net sales of Rs 401.4 crore with an operating EBITDA (Earnings before interest, taxes, depreciation and amortisation) for the same year of Rs 108.3 crore.
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