Wipro Consumer buys Yardley for Rs 214 cr

摘要

Wipro Ltd has brought the iconic Yardley London brand into its fold.rnWipro Consumer Care and Lighting (the FMCG arm of the company) announced today that it has acquired the Yardley business for Asia. Australasia and the North and West African markets for close to Rs 214 crore from the UK-based Lornamead Group, which currently owns the brand.rnThe Group has, however, retained its Yardley businesses in Europe and the Americas.rnThe Yardley deal, to be fully funded through internal accruals, is on a run rate business of $24 million (Rs 113 crore) for this fiscal and the transaction is expected to be completed by mid-December, said Mr Vineet Agraw-al, President, Wipro Consumer Carernand Lighting.