Business Daily from THE HINDU group of publications
Thursday, Sep 07, 2006
Business Daily from THE HINDU group of publications Thursday, Sep 07, 2006 |
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Corporate
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Venture Capital Actis to invest $42 m in Paras Pharma Our Bureau
New Delhi , Sept. 6 Private equity investor Actis is to invest $42 million in the Gujarat-based over-the-counter healthcare and personal care company, Paras Pharmaceuticals Ltd, an Actis release said. According to industry sources, Actis has picked up around 25 per cent stake in the company through the deal. Commenting on the deal, Mr J.M. Trivedi, Partner, Actis South Asia, said, "We believe that the founders of Paras, have built a strong business through a combination of excellent brand building and the development of a strong distribution network, from which they intend to drive rapid growth in the personal care segment going forward. Actis will actively work with the management of Paras to achieve this objective. This partnership will benefit all stakeholders." Mr Girish Patel, CEO of Paras, said, "We have a strong relationship with the Actis team and are impressed by their ability to add value. We welcome Actis as an active partner and are sure that the association will help us take the business to the next level of growth. The capital infusion is to help us expand our business and strengthen our brand and product portfolio." Paras has a portfolio of 15 successful brands, including the Moov and D'Cold brands.
More Stories on : Venture Capital | Pharmaceuticals
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