Piramal Enterprises is set to acquire four brands from multinational drugmaker Pfizer Limited for Rs. 110 crore, a move that will strengthen Piramal’s presence in the consumer products segment.
The acquisition includes names that many associate with their childhood, like Ferradol and Waterbury’s Compound, besides Neko and Sloan’s. The agreement would also include the trademark rights for Ferradol and Waterbury’s Compound in Bangladesh and Sri Lanka. These brands have both a legacy and high consumer pull and are available in India for over 30 years, the company said, adding that it targeted a marketplace that is pegged at Rs. 7,000 crore. In a statement reflecting Chairman Ajay Piramal’s penchant for acquisitions, his daughter and Executive Director Nandini Piramal said that the company’s consumer products division, presently ranked seventh in the country, was targeting the top three slots in the over-the counter (OTC) space by 2020.