Yardley is a global brand established since 1770 in the personal care category with fragrance products, bath and shower products and skin care.

Lornamead will retain the Yardley business in Europe and the America's. The transaction is expected to complete by December 2009.

Rumor (October 13, 2009):

According to The Economic Times, Wipro Consumer Care and Lighting, Ltd., an India-based consumer goods arm of Wipro, is in advanced talks to acquire certain assets of Lornamead.

Reportedly, Dabur India Limited and Godrej Consumer Products, Ltd. have also done due diligence to acquire the assets of Lornamead.

Lornamead's global turnover is estimated to be $650 million.

Deal Value (US$ Million) 45.5
Deal Type                Acquisition
Sub-Category             Asset Purchase
Deal Status              Announced: 2009-11-05

Deal Participants

Target (Company)   Lornamead UK Limited - Yardley Business
Acquirer (Company) Wipro Limited
Vendor (Company)   Lornamead UK Limited

Deal Rationale

The acquisition will increase Wipro's footprint in the personal care space. It also fits into Wipro's strategy of increasing sales and brand presence in the Middle East. The Yardley brand complements Wipro's portfolio of Enchanteur and Santoor brands. The Yardley brand has strong equity globally in markets including Asia, Middle East, Australasia and Africa.

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

"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," Wipro President, Consumer Care and Lighting, Vineet Agrawal said.

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

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

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

"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," Lornamead Chief Executive Mike Jatania said.

(PTI)maz

* "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," Wipro President, Consumer Care and Lighting, Vineet Agrawal said.