Wipro acquires parts of Yardley business for USD45.5m

Posted on: Fri, 06 Nov 2009 09:39:00 EST


Symbols: WIT
Nov 06, 2009 (M2 EQUITYBITES via COMTEX) --
WIT | Quote | Chart | News | PowerRating -- Indian conglomerate Wipro (BOM:507685) reported on Thursday that it has
entered into an agreement to purchase the operations of toiletries
brand Yardley in Asia from British personal care products company
Lornamead for USD45.5m.

The deal also includes the Yardley business in the Middle East,
Australasia and some African markets.

Wipro said that this purchase will add a strong brand to its portfolio
and is in line with the company's strategy of expanding its sales and
brand presence in the Middle East.

The acquisition is expected to be completed by mid-December.

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