Wipro Consumer acquires three soap brands from VVF
This is the third acquisition by Wipro Consumer Care and Lighting, part of Azim Premji-led Wipro Enterprises, within the last 12 months and the 15th acquisition so far, as it is aggressively expanding its portfolio.
on Tuesday announced the acquisition of three soap brands, Jo, Doy, and Bacter Shield, from VVF (India) Ltd for an undisclosed amount, a move that will help the company expand in the personal wash segment.
This is the third acquisition by Wipro Consumer Care and Lighting, part of Azim Premji-led Wipro Enterprises, within the last 12 months and the 15th acquisition so far, as it is aggressively expanding its portfolio.
"The acquisition will be a strategic expansion for Wipro in the personal wash segment," said a statement from Wipro Consumer, which is among the leading players in the segment with sandalwood soap brand Santoor and female toiletries brand Enchanteur.
Jo toilet soap has a presence in North, East and West markets, Doy operates in the premium segment with differentiated positioning, and Bacter Shield has an antibacterial range of soaps and handwash.
"These brands together recorded a revenue of over Rs 210 crore during FY23," it said.
In FY23, Wipro's Santoor had become the second largest player in the segment in India with sales of over Rs 2,650 crore while Enchanteur has also crossed the 1,000 crore mark.
Earlier, Wipro Consumer Care, which has ambitions to become a formidable player in the fast-growing Indian food market, had acquired Nirapara and Brahmins.
Vineet Agrawal, CEO of Wipro Consumer Care and Lighting, said these brands complement the existing portfolio and will give a stronger foothold in the key markets.
"With a diverse array of brands and Wipro's robust distribution network, we are positioned to fortify our market presence and propel growth," said Agrawal, who is also Managing Director of Wipro Enterprises.
"The divestment of Jo, Doy, and Bacter Shield to Wipro aligns with our focus on optimising our portfolio and underscores our confidence in Wipro's ability to nurture and elevate these brands," VVF (India) (Earlier known as Vegetable Vitamins Foods Co) Chairman and Managing Director Rustom Godrej Joshi said.
Wipro Consumer Care and Lighting has crossed the milestone of Rs 10,000 crore in overall sales in FY23.