Mumbai | Jul 24, 2012
Wipro Consumer Care & Lighting today acquired London-based Yardley’s business in Europe except Germany and Austria for an undisclosed sum.
“We have signed an agreement with the Lornamead Group to acquire the Yardley business in Britain and many other European countries, excluding Germany and Austria. This transaction further expands the geographic reach of the Yardley portfolio already owned by us,” the company said in a statement issued here.
The FMCG arm of IT firm Wipro had acquired the Yardley portfolio for Asia, Middle East, North Africa and Australasia from Lornamead in December 2009.
Wipro will also acquire Lornamead’s ‘Woods of Windsor’ business, another heritage brand in Britain, which is well known for its floral fragrance-led portfolio in personal care segment, it added.
Established in 1770, Yardley is one of the world’s oldest brands in the personal care category with fragrance, bath and shower and skin care products. It is a premium personal care brand.
Following its acquisition by Wipro, its revenue grew to Rs 184.9 crore last year compared to Rs 83.7 crore in 2008-09.
“Given the brand’s performance, it was only logical to own both the brands in its home market in England which in FY12 clocked a revenue of Rs 29.6 crore.
“We will be able to leverage the brand’s core values and offer new products to consumers across our markets and are confident that we will be able to develop the Yardley brand further especially by using our strong R&D and international footprint. Yardley in London will see sustained brand building initiatives,” Wipro Consumer Care regional director for East Asia, Middle East and Africa Nagender Arya said.