Reckitt Benckiser buys K-Y brand

U.K. consumer-goods company Reckitt Benckiser Group PLC said Monday it bought the K-Y brand of intimate lubricants from Johnson & Johnson subsidiary McNEIL-PPC Inc. for an undisclosed sum.

The Wall Street Journal reports no employees are fixed assets will change hands in the deal, expected to close in mid-2014.

Reckitt, which already owns condom brand Durex, said sales of K-Y in 2013 exceeded $100 million.

Read more from the Wall Street Journal.