Wipro Consumer Care acquires Kerala-based packaged food brand Nirapara

Wipro Consumer Care’s flagship brand is Santoor, one of the leading toilet soap brands in India.

Wipro Consumer Care and Lighting, part of Wipro Enterprises announced on December 19 the acquisition of Kerala-based spice manufacturing firm Nirapara for an undisclosed amount, marking its entry into the packaged and ready-to-cook food segment.

“Nirapara is our 13th acquisition and gives us a clear foothold in the spices and ready-to-cook segment. We are excited to enter a large segment that is expected to grow rapidly,” said Vineet Agrawal, chief executive officer of Wipro Consumer Care.

Agrawal said that around 63 percent of the spice business comes from Kerala, 8 percent from rest of India, and 29 percent from international markets, largely GCC countries.
He said that the firm is acquiring Nirapara at an annualised revenue of close to Rs 100 crore and the deal will depend on the multiple of how the brand will be turned around after one year of acquisition. However, sources close to the development said that the deal size is close to Rs 200-Rs 250 crore.

Nirapara is a popular spice manufacturer and rice trading firm in Kerala that launched in 1976 and owned by KKR Group of companies from Ernakulam. It is known for blended spices especially Sambar Powder and Chicken Masala.

“The company has gone through a tough time in the last 3-4 years, especially post-pandemic and other natural disasters. The operations were shut for the past six months…we will be starting operation in the next one month,” Agrawal added.
The segment is a Rs 70,000 crore market and only 12% is covered by the Organised sector, said Anil Chugh who is the appointed president of the Food Business at Wipro Consumer Care.

“There is a huge opportunity in this space for shifting consumers from unorganised to organised market by offering authentic, pure and trusted spice mixes,” he observed.

Wipro Consumer Care recorded a revenue of Rs 8,630 crore in FY22 and its business includes personal wash products, toiletries, facial care products, wellness products, home care products, electrical wire devices, domestic and commercial lighting, and seating solutions.

Wipro Consumer Care’s flagship brand is Santoor, one of the leading toilet soap brands in India. Other key brands include Yardley, Enchanteur, Hygienix, Chandrika (Ayurvedic bathing products), Glucovita (Energy drink and Tablet), Safewash (Liquid detergent), Softouch (Fabric conditioner), Giffy (Dish wash liquid), Maxkleen (Floor Cleaners and Surface Sanitizers) , Wipro Garnet (LED Lights) and Aramusk (Male Grooming).