Wipro, the software and FMCG conglomerate, has announced that it has agreed to buy some personal care businesses belonging to the Yardley brand, in a deal worth $45.5m. Wipro will acquire the unit from the UK-based Lornamead group, and the deal is expected to be completed by mid-December.
The deal covers Yardley’s businesses in Asia, the Middle East, Australasia and some African markets. This is Wipro's major FMCG acquisition in two years, after it acquired Singapore-based personal care maker Unza Holdings Ltd for $246m in 2007.
Namnews - Thursday 5th November 2009
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