14 May 2016 Current Affairs: Piramal Enterprises ,that it would acquire four brands - Neko Soap, Sloans, Ferradol and Waterbury's Compound from Pfizer for its consumer products division, for Rs 110 crore. The closure of this transaction is subject to obtaining requisite regulatory approvals and fulfilment of certain conditions by the parties.
Piramal would also purchase the trademark rights for Ferradol and Waterbury’s Compound in Bangladesh and Sri Lanka..
These brands hold a rich legacy and have high consumer pull and are available in India for the past 30-plus years,” said Piramal Enterprises.
Ferradol, launched in 1982, is a leading nutritional supplement for children and adults. Neko, launched in 1967, is a medicated soap indicated for body odour and minor skin infections. Sloans is a muscular pain reliever, whereas Waterbury's Compound is used for building immunity from cough and cold.
These products currently operate in a market estimated to be worth Rs 7,000 crore.
Acquisition is one of the important routes to help us achieve our goal, and in the past six months we have done two acquisitions in the consumer products business. The first one was the Little's baby care range of brands and the second was the gastro-intestinal portfolio of brands from MSD. We believe these brands from Pfizer will fit our portfolio and also strategically help us move closer towards our stated objective.