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Eyeing more acquisitions in FMCG space: Wipro

Eyeing more acquisitions in FMCG space: Wipro
PTI
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First Published: Wed, Jul 20 2011. 04 58 PM IST
Updated: Wed, Jul 20 2011. 04 58 PM IST
New Delhi: Wipro Consumer Care and Lighting on Wednesday said it is looking for more acquisitions in the fast moving consumer care space, both in the domestic and overseas markets as it plans to enhance its product portfolio.
“We are open for more acquisitions. Anything, that comes on our way which is of strategic fit to us, we will definitely evaluate,” Wipro Consumer Care and Lighting (WCCLG) senior vice-president Anil Chugh told PTI.
He, however, did not give further details on the potential acquisitions, but said the company will be looking for possible buyouts in the skincare and personal wash categories.
Last month, the company had acquired two soap brands Aramusk and Moloy from Mumbai-based VVF. Prior to that, it had acquired London-based Yardley’s business in Asia, the Middle East, Australasia and certain African markets for over $45.5 million.
Some of its other acquisitions include energy drink brand Glucovita, followed by Chandrika soap and North-West Switches. Its first major overseas acquisition was Singapore-based Unza Holdings for around Rs 1,000 crore in 2007.
The division, which posted a 18% increase in its net revenue to Rs 754.5 crore in the quarter ended 30 June, 2011, said it is focused on pushing sales of its male grooming products sold under the brand ‘Aramusk’ and ‘Romano’ in the coming quarters.
“In the coming quarters, we will be focusing a lot on the male grooming range. We have recently acquired Aramusk. We want to enhance and build the brand,” Chugh said.
Besides, the company is also betting big on its other personal care brands primarily ‘Chandrika’ and ‘Yardley’ and is looking at intensifying its marketing initiatives.
He, however, declined to share the various marketing initiatives and how much the firm plans to invest on it.
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First Published: Wed, Jul 20 2011. 04 58 PM IST