WIPRO Singapore, part of India-based fast-moving consumer goods (FMCG) company Wipro Consumer Care, said on Thursday that it will, via its subsidiary Wipro Unza, acquire Chinese FMCG company Zhongshan Ma Er Daily Products in an all-cash deal.
Wipro said that the acquisition will help the company "leapfrog into the leading position" in South China's personal care market, and add "critical brands" to the portfolio of Wipro Consumer Care.
According to Wipro, Zhongshan Ma Er has a strong footprint in China and Hong Kong, and its brand portfolio includes personal care brands Enear and Zici; bath and shower brand Vcnic; and fabric care brands Pahnli and Sunew.
Wipro added that post acquisition, Wipro Unza's business in China will "touch an annual run rate" of close to one billion yuan (S$203 million).
This transaction, the amount of which was not disclosed, is subject to regulatory approval.