Wipro acquires Yardley’s EU business

Wipro Consumer Care and Lighting (WCCL), a subsidiary of Wipro, has revealed that it has acquired Lornamead Group’s personal care brand Yardley’s UK and Europe business, for an undisclosed amount.

The firm’s new acquisition will exclude the Yardley’s Germany and Austria’s businesses, reported The Times of India.

Wipro is also proposing to acquire ‘Woods of Windsor’ business in the UK from the Lornamead stable’s , where the deal size has not been disclosed.

Wipro Consumer Care & Lighting president Vineet Agrawal said the firm’s new acquisition price is not out of line with normal acquisitions.

"In revenue terms we have acquired a small business of around Rs 30 crore or $6.2 million," added Agrawal.

The firm had already bought Yardley’s Asia, Middle East, North Africa and Australasia businesses in 2009 for Rs2.1bn ($37.4m).

Since the acquisition, the firm has been investing to give it a younger image.

WCCL ‘s personal care division posted a revenue growth of 30% at Rs9.79bn ($174.8m) for the April to June quarter of 2012, compared to Rs7.55m ($134.8m) in the same quarter a year earlier.

The company reported a profit of Rs1.14bn($20.3m) in the present quarter, a 27% increase from Rs895m ($15.9m) during the same quarter in 2011.

WCCL ‘s Rs10bn flagship brand Santoor has reported a 36% growth value.

The firm’s international business also reported healthy growth rates with sales growing in China at 27%, Indonesia at 47%, Middle East at 25%, Vietnam at 23.4%, and Malaysia at 12.6%.