Wipro arm buys Chinese co, its 2nd biggest deal

by:Vitalucks      2020-06-07
Bangalore: Home Care and Lighting in vibuluo (WCCL)
Has fully acquired the Chinese fast consumer products brand Zhongshan horse Daily necessitiescash deal.
Although WCCL did not disclose the size of the deal, WCCL said it was its second-largest acquisition.
To date, the company\'s largest acquisition was the acquisition of Singapore\'s personal care product brand Unza Holdings in 2007 for $0. 246 billion.
The company, which owns brands such as Santoor and Chandrika, has invested $0. 6 billion in acquisitions so far.
Its first case was Glucovita in 2003.
Since then, the company\'s acquisition includes Yardley (
Asia, Middle East, North Africa and Australia)
2009 Yardley UK in 2012 LD waxsons group in 2012 to 0. 144 billion beauty yuan of price acquisition.
The Zhongshan ma ii deal is expected to strengthen the influence of Wipro in the personal care market in south China.
In 2007, Wipro\'s business income in China was 11-
Millions of income.
Annual revenue for the acquisition is expected to reach $0. 15 billion. In 2015-
Revenue from WCCL is RS 5,950.
Unlisted Wipro group entities produce soap, toiletries, personal care products, baby care products, health products, wire equipment, home and commercial lighting, and modular office furniture. “This (Zhongshan ma ii)
\"The deal drove us to third place in the bath and shower market in southern China and significantly strengthened our fabric care business,\" said Vineet Agrawal, CEO of WCCL . \".
He said the consolidated entity strengthened Wipro\'s market position in personal care products, a core category of the company.
\"I believe that we can further leverage the strengths of joint entities in marketing, R & D and distribution to accelerate the growth of all our core brands, given our good track record in business integration, \"he said.
Zhongshan Ma ER has a strong footprint in China and Hong Kong. At present, the revenue growth rate is 75 million US dollars. 55% of its sales come from three shower brands Enear and Zici, 45% of the sales came from liquid detergents under its brands of Pahnli and Sunew.
The company also said that the international business of Wipro Consumer Care will account for 55% of its total global revenue.
Before the acquisition, India and Malaysia had a revenue share of 49% and 19% respectively, which was the main market for WCCL.
After the acquisition, China\'s current revenue between 8% and 10% is expected to grow significantly.
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