Bengaluru: Wipro Consumer Care on Tuesday announced its acquisition of South African personal care firm Canway Corporation.
acquisition gives Wipro Consumer Care an entry into South Africa and
other African markets. It is a milestone for us given our vision of
being among the top three players in personal care in Asia and Africa,"
Wipro Consumer Care and Lighting chief executive Vineet Agrawal told
The company, however, did not disclose the acquisition cost as it awaits regulatory approvals.
is Wipro Consumer Care's 12th acquisition in the past 16 years,
bringing its brands such as 'Oh So Heavenly', 'Iwori' and 'IQ' into
Iwori is a brand which uses organic African ingredients in its products.
Canway owns a manufacturing plant and a research and development centre in Durban.
gives us the access to resources that will help us grow faster. It will
enable us to unlock the true potential of our brands," Canway founder
and chief executive Andre Barnard said in the statement.
Barnard said Wipro shares Canway's focus on creating brands with local insights and drive operational efficiency.
is also confident of taking advantage of Wipro's marketing expertise
and international distribution network, which will catapult Canway's
Raghav Swaminathan, Wipro Enterprises'
Chief Financial Officer said Canway's acquisition helps Wipro Consumer
Care in understanding the South African consumer, enabling the Indian
company to expand 'Oh So Heavenly' brand to countries where Wipro has a