Wipro to acquire Unza Holdings for USD 246 mn
Bangalore, July 6: Wipro Limited today announced that it has signed definitive agreements to acquire 100 per cent shareholding in Unza Holdings Limited (Unza), a Singapore based FMCG company, for an all cash consideration of USD 246 million.
Unza had recorded a revenue of Rs 683.3 crore with double digit operating margin for fiscal year ending April 30, 2007. This transaction had catapulted the combined entity into strong force across Asian markets, Wipro said in a release here, adding that the transaction was expected to be closed by the end of this month.
Unza, South East Asia's largest independent manufacturer and marketer of personal care products, brought focused brands to millions of Asian consumers. With operations in over 40 countries, Unza marketed a wide portfolio of personal care brands, such as Enchanteur, Safi, Romano and Izzi not to mention its two detergent brands, Vigor and Maxkleen.
Unza had manufacturing plants in Malaysia, Vietnam, China and Indonesia.
Commenting on the deal, Wipro Consumer Care and Lighting President Vineet Agrawal said, ''this acquisition would double our addressable market size in terms of GDP. Unza has an excellent product range and a large portfolio of strong brands catering to Asian consumers. They have been able to consistently grow faster than the market in the geographies they are present in. We see lot of similarities between the two entities such as customer centricity and empowerment.''