Wipro has signed definitive agreements to acquire 100% shareholding in Unza Holdings (Unza), a Singapore based Fast Moving Consumer Goods (FMCG) company for an all cash consideration of a little over Rs 1,000 crore ($246 mn).
Unza Holding recorded revenues of Rs 683 crore with double digit operating margin for fiscal year ending on April 30, 2007. According to the company statement, this transaction catapults the combined entity into strong force across Asian markets. Transaction is expected to be closed by end July.
Unza is South East Asia’s largest independent manufacturer and marketer of personal care products bringing Asian focused brands to millions of Asian consumers. With operations in over 40 countries, Unza markets a wide portfolio of personal care brands, such as Enchanteur, Safi, Romano and Izzi – not to mention its two detergent brands, Vigor and Maxkleen.
Headquartered in Singapore, Unza has manufacturing plants in Malaysia, Vietnam, China and Indonesia. Last year Unza’s revenues grew 14% in dollar terms, well ahead of market growth rates in the region.