OPEN APP
Home >Companies >Wipro acquires Yardley business in UK

Mumbai: Wipro Ltd announced on Tuesday it has signed an agreement with the Lornamead group to acquire the Yardley business in the UK and some other European countries.

Wipro Consumer Care and Lighting already owns the Yardley portfolio for Asia, West Asia, North Africa and Australasia, which it bought from Lornamead in December 2009.

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.

Since its acquisition by Wipro, Yardley’s revenues have grown two-fold and stood at Rs184 crore in fiscal 2012.

“Given the brand’s performance, it was only logical to own both the brands in its home market in the UK, which in fiscal 2012 clocked a revenue of Rs29 crore," said Nagender Arya, regional director (East Asia, Middle East and Africa), Wipro Consumer Care and Lighting. “We will be able to leverage the brand’s core values and offer new products to consumers across our markets."

The Wipro stock, at around 12.30 pm, was down 2.52% at Rs347.45 a share even as the benchmark Sensex was up 0.25% at 16,920.09 points.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout