Wipro buys Singapore's Unza FMCG firm
Posted on: 09:19 PM IST Jul 06, 2007
New Delhi: Wipro's consumer-products unit has bought Singapore's Unza Holdings, makers of toiletries, for $246 million in cash.
The acquisition will almost double revenue for Wipro's consumer care and lighting unit, which makes soaps and light- bulbs.
The unit posted a 36 per cent increase in sales in the year ended March 31.
The acquisition gives Wipro consumer care an entry into markets in Malaysia, Indonesia, Vietnam, China, Singapore and Nigeria.
Unza has a headcount of 4,000 and five manufacturing plants -- two in Malaysia and one each in Vietnam, China and Indonesia, Wipro Consumer Care and Lighting's President Vineet Agrawal said.
New York Stock Exchange-listed Wipro's consumer care and lighting division clocked revenues of close to Rs 800 crore in 2006-07.
Agrawal said there would not be any management changes in Unza as it is being run professionally.
Wipro would conduct consumer test on introducing Unza brands in India and would also look at using Unza product formulations under its own brand of Santoor.
(With agency inputs)