Acquisition of Zhongshan Ma Er includes personal care brands – Enear, Zici, and Vcnic, and fabric care brands – Pahnli and Sunew
Bangalore, India – September 22, 2016: Wipro Singapore Pte. Ltd, part of Wipro Consumer Care and Lighting, today announced that it has signed a definitive agreement to acquire 100% shareholding of Zhongshan Ma Er Daily Products Limited, a Chinese Fast Moving Consumer Goods (FMCG) company, in an all cash deal.
This acquisition will help the company leapfrog into the leading position in South China’s personal care market besides adding critical brands to the portfolio of Wipro Consumer Care and Lighting.
Post acquisition, Wipro Unza, the South East Asian arm of Wipro Consumer Care and Lighting, which recorded revenues of RMB 82 million (USD 11 million) from its China business in 2007, will touch an annual run rate of close to RMB 1 billon ($150 million). Wipro Consumer Care’s International businesses would now contribute 55% of its total global revenues.