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Reckitt Benckiser to buy K-Y from Johnson & Johnson

Reuters - UK Focus

LONDON, March 10 (Reuters) - Reckitt Benckiser Group on Monday said it agreed to buy the global rights to the K-Y brand of intimate lubricants from Johnson & Johnson (NYSE: JNJ - news) 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.