Mumbai, Nov 5: Adding to its consumer goods business, Wipro is all set to buy some personal care businesses of Yardley for about 45.5 million dollars from the UK-based Lornamead group.
Wipro on Thursday, Nov 5 announced that its consumer care and lighting business has signed an agreement with the UK company for the businesses in Asia, the Middle East, Australia and some African markets.
In a statement, India's third largest software services exporter informed that the transaction is expected to be completed by mid-december 2009.
"This transaction adds a very strong brand to our portfolio of personal care products. It fits into our strategy of increasing sales and brand presence in the Middle East. Our understanding of the Indian markets will also help to expand Yardley across the region," said Vineet Agharwal, President Wipro Consumer Care and Lighting.
Lornarnead group will retain the Yardley business in Europe and the Americas.