Wipro Consumer Care & Lighting (WCCL), part of billionaire Azim Premji-led Wipro Group, has acquired Chinese fast moving consumer goods (FMCG) company Zhongshan Ma Er Daily Products Ltd, in an all-cash deal.
The acquisition was made through Wipro Unza, the South East Asian arm of Wipro’s now-separated consumer business.
The firm expects the deal to help it leapfrog into a leading position in South China’s personal care market besides adding critical brands to the portfolio of WCCL.
BNP Paribas acted as financial adviser to Zhongshan Ma Er for the deal.
Zhongshan Ma Er has a strong footprint in China and Hong Kong and its brand portfolio includes leading personal care brands Enear, Zici and Vcnic, comprising bath & shower products, and fabric care brands Pahnli and Sunew.
Wipro Unza has a formidable presence in the Chinese market with brands such as Enchanteur and Romano. The firm enjoys market leading positions in the personal wash and deodorant categories in Guangdong and Hainan provinces.
Vineet Agrawal: CEO of Wipro Consumer Care & Lighting.