Reckitt Benckiser to purchase K-Y brand from McNeil

Reckitt Benckiser has agreed a deal with McNeil to purchase the well-established personal lubricant brand K-Y.

The transaction involves the payment of an undisclosed fee and is expected to close in mid-2014. It will greatly add to Reckitt Benckiser's sexual wellbeing portfolio, while the brand will benefit from the company's innovative and commercial capabilities.

K-Y was established as a prescription medical offering in 1917, before becoming an over-the-counter brand in 1980. It is a long-established leader in its category and played a key role in building the female intimacy enhancement segment in lubricants.

Net sales of K-Y in 2013 were greater than $100 million (60.11 million pounds). It is sold in more than 50 countries around the world.

The company said: "K-Y, as a global leader in intimate lubricants with very high trust score amongst women, will sit alongside the Reckitt Benckiser power brand Durex to create a unique portfolio of brands in the sexual wellbeing category."

In 2013, Reckitt Benckiser generated a net revenue total of 10.04 billion pounds, up by five percent on 2012.