Consumer goods group Reckitt Benckiser agreed to buy Durex condoms and Scholl sandals maker SSL International for 2.5 billion pounds ($3.8 billion) to increase its presence in health and personal care.
Reckitt's Chief Executive Bart Becht said: "It is anticipated that the acquisition will increase Reckitt Benckiser's health and personal care net revenues by over 36 percent to approximately 2.8 billion pounds, one third of the Group's total net revenues."
Reckitt said on Wednesday it expected cost synergies in the region of 100 million pounds a year from the combined group by the end of 2012, resulting in an improved margin profile for the acquired business.
Gotta love it! There are dump trucks of money in the 'sex' business. What's funny is that I think more people buy condoms then actually use them ha.
