Wipro to acquire Yardley personal care biz

Yardley is a global brand in personal care category offering fragrance,body wash and skin care products.

8220;This transaction adds a strong brand to our portfolio of personal care products. It fits into our strategy of increasing sales and brand presence in the Middle East,8221; Wipro President,Consumer Care and Lighting,Vineet Agrawal said.

The transaction is expected to complete by mid-December 2009,it said.

8220;Our understanding of Indian markets will also help to expand Yardley across this region,8221; Agrawal added.

Lornamead would,however,retain the Yardley business in Europe and America,the filing added.

8220;We will continue to invest in Yardley in Europe and America in particular through category expansion and new product development in these core markets where we see considerable growth opportunities,8221; Lornamead Chief Executive Mike Jatania said.

Shares of Wipro were trading at Rs 581.40 on BSE,down by 2.42 per cent from its previous close.