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India's Wipro buys Yardley brands
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    • BANGALORE, Nov 5 (AFP) Nov 05, 2009
     The retail arm of India's third-largest software exporter Wipro said on Thursday it had agreed to buy the Yardley soap and shampoo brands in Asia, Middle East, Australasia and some African markets.

    The deal, valued at 45.5 million dollars with Britain-based Lornamead group, will add to Wipro's personal care arm and will be completed by mid-December, the group said in a statement.

    Lornamead group, which bought Yardley from US consumer products giant Procter and Gamble in 2005, will retain the brands in Europe and the Americas.

    "This transaction adds a strong brand to our portfolio. It fits into our strategy to boost sales and brand presence in the Middle East," said Vineet Agrawal, president of Wipro Consumer Care and Lightings division.

    Yardley is a maker of fragrances, soaps and skin products in business since the 1770s.




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