Reckitt Benckiser shares rise after K-Y deal
Shares in consumer goods group Reckitt Benckiser are up 0.04 per cent this morning.
Earlier in the day, the company announced that it would be acquiring the global rights to the K-Y brand of intimate lubricants from Johnson & Johnson for an undisclosed amount.
In 2013, K-Y had net sales greater than $100m. The products were sold in more than 50 countries, with the US, Canada and Brazil making up the majority of sales. No employees or fixed assets will change hands in the deal.
The company said in a statement:
K-Y, as a global leader in intimate lubricants with very high trust score amongst women, will sit alongside the RB Powerbrand Durex to create a unique portfolio of brands in the sexual wellbeing category.
Its addition will immediately transform RB's sexual well-being category in the USA and Brazil. K-Y will benefit from RB's strong innovation, brand equity investment and go-to-market capabilities.
(Google)