Paras Pharmaceuticals

In Ahmedabad, India, three brothers, Girish, Darshan, and Devendra Patel, built Paras Pharmaceuticals into a fast-moving consumer goods powerhouse. Starting in the 1980s, the family-run business had a knack for creating new categories of over-the-counter products that became household names in India. Brands like Moov pain relief ointment, Krack heel care cream, Itch Guard, and D'Cold cold remedy were born from observing the everyday problems of consumers. The company's journey was marked by a sharp focus on brand building. Darshan Patel, in particular, was credited with creating many of its iconic brands. This strategy attracted external investors, and in 2006, private equity fund Actis acquired a significant stake, which eventually grew as Darshan and Devendra Patel sold their shares and exited the family business to start their own ventures. A pivotal event occurred in December 2010 when British consumer goods giant Reckitt Benckiser (now Reckitt) acquired the entire company for ₹3,260 crore (approximately $726 million). The deal included the stakes held by private equity firms Actis and Sequoia Capital, as well as the remaining family stake held by founder Girish Patel. For Reckitt, the acquisition was a strategic move to create a significant healthcare business in the promising Indian market. For the Patel brothers, it was the culmination of decades spent building a portfolio of valuable brands, cementing their legacy in India's consumer goods history.