Attempting to reinforce its market share within the consumer care section, Wipro Consumer Care and Lighting mentioned it has invested greater than $1 billion to fund 15 Fast Moving Consumer Goods (FMCG) acquisitions since 2003.
The firm on Tuesday acquired private care brands Jo, Doy, and Bacter Shield from VVF (India) Ltd., a contract producer, marking Wipro’s third acquisition in 12 months.
These three brands collectively recorded a income of greater than ₹210 crore for VVF throughout FY23. Wipro Consumer Care and Lighting officers termed it “100% acquisition,” nonetheless, refused to reveal particulars concerning the associated fee and phrases of the deal.
Originally based by Godrej Pallonji Joshi in 1939 as The Vegetable Vitamin Foods Company in Mumbai, VVF Ltd. is contract producer of bar soaps with a manufacturing capability of 300,000 metric tonnes yearly in manufacturing crops throughout 4 continents, as per the corporate’s web site.
Neeraj Khatri, Chief Executive, Wipro Consumer Care and Lighting, India, and SAARC Business mentioned, the acquisition can be a strategic growth for Wipro within the private wash section. Jo rest room cleaning soap is at the moment bought in Northern, Eastern and Western states of the nation. Doy operates within the premium, pitched in opposition to glycerine wealthy brands like Pears and Dove, whereas Bacter Shield has an antibacterial vary of cleaning soap and handwash, he mentioned.
“Growing at double digits we need to double the revenues of those brands within the subsequent three years,’‘ Mr. Khatri said while addressing a media conference here.
The country’s rest room cleaning soap business is pegged at ₹22,000 crore of which Wipro has a share of 11% with its flagship brands Chandrika and Santoor commanding a major presence.
