The Competition Commission has approved the proposed acquisition of Johnson & Johnson's two brands, 'Savlon' and 'Shower to Shower', by FMCG major ITC.
Savlon is an antiseptic brand while Shower To Shower is a personal care product brand.
In a tweet today, the Competition Commission of India (CCI) said that it has approved "acquisition of Savlon and Shower to Shower brands by ITC".
According to the notice submitted to CCI, ITC would acquire Savlon with "certain attendant inventories, know-how, molds and promotional materials" from Johnson & Johnson Private Ltd.
The FMCG major would also acquire the Shower to Shower brand along with "certain know-how and promotional materials" from Johnson & Johnson PTE.
ITC is a multi-business enterprise having presence in fast moving consumer goods (FMCG), hotels, agri-business, among others.
Johnson & Johnson Private Ltd and Johnson & Johnson PTE are part of US-based Johnson & Johnson Inc, which is engaged in the business of consumer healthcare products, pharmaceuticals and medical devices.
News Source - Business Standard
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