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Moneycontrol.com >> Messageboard >> Stocks >> Wipro >> wipro buys yardley personal care business
   You are here :     Moneycontrol     MMB    Stocks      Wipro                         Most active discussions of 2006 , 2007 & 2008
wipro buys yardley personal care business (1)   05-Nov-09 17:34Track this thread   Tracked by (0)  
Posted by:   stocktobuy on ( 05-Nov-09 17:34 )
Price : BSE: Rs 598.30 ( 0.42 % ), NSE: Rs. 599.90 ( 0.38 % )
MUMBAI: Wipro, India`s No. 3 software services exporter, said on Thursday it had agreed to buy some personal care businesses of Yardley for about Globe`s biggest M&A dealmakers
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$45.5 million, adding to its consumer goods business.

Wipro said it had signed an agreement with UK-based Lornamead group, which owns the Yardley brand, for the businesses in Asia, the Middle East, Australasia and some African markets.

The transaction is expected to be completed by mid-December, it said in a statement.

Lornamead`s global turnover is estimated to be close to $650 million. Its portfolio straddles various categories of personal care products including hair-care (Brisk, Aqua Net and Vosene), cosmetics and skin-care (Amplex and Handsan), oral care (Brilliant and Goldspot) and home care brand Stergene.

Tura is a significant player in soaps and skin care in Nigeria, with an annual turnover of close to $50 million.

This is Wipro`s second big buy-out in the FMCG space in two years. In July 2007, Wipro had acquired Singapore-based personal care products manufacturer Unza Holdings Ltd for $246 million (Rs 1,010.2 crore) in an all-cash deal. That deal with Unza`s portfolio of shampoos, creams, lotions and detergents had marked Wipro`s big plunge into the global FMCG space.
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