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Yardley's international personal care business acquired by Wipro

13-Nov-2009

Related topics: Financial

Indian investment firm Wipro has acquired the personal care operation for the Yardley brand in the Asia Pacific and Middle East operations.

The company has signed an agreement with the UK-based Lornamead Group, which owns the brand, giving it licensing rights throughout Asia, Australasia and the Middle East.

The deal, which is thought to have cost Wipro approximately €37m will add to the existing personal care portfolio that Wipro has built up in recent years.

The transaction should complete in mid-December, after which time Lornamead says it intends to continue investing in the development of the Yardley brand in Europe and America.