Reckitt Benckiser to Buy K-Y Brand from J&J

March 13, 2014 Leave a comment

Reckitt Benckiser to Buy K-Y Brand

K-Y’s 2013 Sales Exceeded $100 Million

ED BALLARD

March 10, 2014 5:04 a.m. ET

LONDON—U.K. consumer-goods company Reckitt Benckiser Group RB.LN -0.35% PLC said Monday that it bought the K-Y brand of intimate lubricants from Johnson & JohnsonJNJ +0.46%

subsidiary McNEIL-PPC, Inc. for an undisclosed sum.

No employees or fixed assets will change hands in the deal, which is expected to close in mid-2014, Berkshire, U.K.-based Reckitt said.

Reckitt, which already owns condom brand Durex, said sales of K-Y in 2013 exceeded $100 million.

“K-Y, as a global leader in intimate lubricants with very high trust score among women, will sit alongside the RB Powerbrand Durex to create a unique portfolio of brands in the sexual well-being category,” Reckitt said.

Shares in Reckitt traded down 15 pence or 0.3% at 4,811 pence shortly after the announcement.

Reckitt Benckiser to buy K-Y from Johnson & Johnson

4:43am EDT

LONDON (Reuters) – Reckitt Benckiser Group (RB.L: Quote, Profile, Research, Stock Buzz) on Monday said it agreed to buy the global rights to the K-Y brand of intimate lubricants from Johnson & Johnson (JNJ.N: Quote,Profile, Research, Stock Buzz) for an undisclosed price.

No employees or fixed assets are included in the deal, which is expected to close in mid-2014, the company said.

Reckitt, which already owns Durex condoms, said K-Y had 2013 sales of over $100 million, with the majority coming from the United States, Canada and Brazil.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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