KUALA LUMPUR: Wipro Ltd, parent company of Unza group, has signed an agreement to acquire the Yardley business in Asia, the Middle East, Australasia, and selected African markets for about US$45.5 million (RM153.3 million) from UK-based Lornamead group.

In a statement yesterday, Wipro-Unza said the deal, which was inked earlier this month, added another “jewel” to Wipro consumer care and lighting, the fast-moving consumer goods arm of Wipro. Wipro had acquired Unza in 2007.

Unza said the Lornamead group would have revenues on a run-rate basis for the 2010 financial year of US$24 million. The transaction is expected to be completed by mid-December 2009. Lornamead retains the Yardley business in Europe and the Americas.

“This transaction adds a very strong brand to our personal care products portfolio,” said Wipro consumer care and lighting president Vineet Agrawal. “Our understanding and presence in markets like Malaysia and other Asian territories will help expand Yardley across the region.”

Wipro-Unza said Yardley was a strong heritage global brand established since 1770 in the personal care category with fragrance, bath and shower, and skin care products. The brand is one of the few personal care brands that holds Royal Warrants.

Lornamead group acquired Yardley from Procter & Gamble in 2005.


This article appeared in The Edge Financial Daily, November 19, 2009.