Wipro buys Singapore FMCG firm for Rs 790 crore
BANGALORE: Wipro Consumer Care and Lightning (WCCL) has acquired the Singapore-based FMCG company LD Waxson for $144 million (approximately Rs 790 crore).
This is WCCL's second largest acquisition; it had acquired Unza, another Singapore-based FMCG brand, in 2007 for $246 million. WCCL's portfolio of national and international brands includes Santoor, Chandrika, Aramusk, Enchanteur, Yardley, and Woods of Windsor.
LD Waxson will give Wipro ownership of skincare brands such as Bio-essence and Ginvera, and the healthcare brand Ebene. The acquisition will give WCCL a foothold in emerging consumer care markets such as Taiwan and western and eastern China, increase WCCL's market share in the Malaysian facial care market from 17% to 26% and take the company to a leadership position in Singapore.
LD Waxson has manufacturing facilities in China and Malaysia. The company is expected to end the calendar year 2012 with revenues of about $68million. While Wipro will not bring any of these newly acquired brands to India in the near future, Vineet Agrawal, president WCCL, said, "We are looking to take the LD Waxson brands to other markets such as Vietnam and Indonesia, which have a large Chinese population."
This is WCCL's second largest acquisition; it had acquired Unza, another Singapore-based FMCG brand, in 2007 for $246 million. WCCL's portfolio of national and international brands includes Santoor, Chandrika, Aramusk, Enchanteur, Yardley, and Woods of Windsor.
LD Waxson will give Wipro ownership of skincare brands such as Bio-essence and Ginvera, and the healthcare brand Ebene. The acquisition will give WCCL a foothold in emerging consumer care markets such as Taiwan and western and eastern China, increase WCCL's market share in the Malaysian facial care market from 17% to 26% and take the company to a leadership position in Singapore.
LD Waxson has manufacturing facilities in China and Malaysia. The company is expected to end the calendar year 2012 with revenues of about $68million. While Wipro will not bring any of these newly acquired brands to India in the near future, Vineet Agrawal, president WCCL, said, "We are looking to take the LD Waxson brands to other markets such as Vietnam and Indonesia, which have a large Chinese population."
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