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India Wipro acquires Yardley business
IT major, Wipro Limited, has acquired the Yardley business in Asia, Middle East, Australia and certain African Markets for 45.5 million US Dollar from UK-based Lomamead Group. The transaction is expected to complete by mid December 2009, Wipro Consumer Care and Lighting President Vineet Agrawal told newsmen here today. Mr Agrawal said 'the new acquisition adds a very strong brand to Wipro portfolio of personal care products. It fits into our strategy of increasing sales and brand presence in the Middle East.'' Lornamead Chief Executive Mike Jatania said that ''Lornamead has been able to significantly increase the sales of Yardley globally through our investment in the brand. " We would continue to invest in Yardley in Europe and Americas, in particular through category expansion and new product development in these core markets where we see considerable growth opportunities. personal care is a core category for us and we would continue to acquire and invest in heritage brands which had strong potential.'' -- (UNI) -- 05MC15.xml
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