LONDON -- Britain's Reckitt Benckiser (IW 1000/300), the maker of Durex condoms, is expanding into K-Y sexual lubricants, the consumer goods company revealed today.
The London-listed firm has agreed to buy global rights to the K-Y brand from McNeil-PPC Inc., a subsidiary of U.S. rival Johnson & Johnson (IW 500/17), for an undisclosed amount, it said in a statement.
"K-Y, as a global leader in intimate lubricants with very high trust score among women, will sit alongside the Reckitt Benckiser power brand Durex to create a unique portfolio of brands in the sexual well-being category," it added. "Its addition will immediately transform RB's sexual well-being category in the USA and Brazil."
Net sales of K-Y, which is sold in more than 50 countries, stood at above $100 million (72 million euros) last year, Reckitt said.
The United States, Canada and Brazil accounted for the majority of K-Y's sales in 2013.
No employees or fixed assets are included in the purchase, which is expected to complete in mid-2014.
Copyright Agence France-Presse, 2014
