Wipro buys some Yardley businesses for $45.5 million | Stock Market News

Wipro Ltd has acquired certain businesses of Yardley, a 240-year-old British premium personal care brand, from the UK’s Lornamead Group for $45.5 million. This acquisition is part of Wipro’s strategy to expand its consumer care portfolio, which has seen significant growth over the past five years. The Yardley business, with a revenue of $24 million, will enhance Wipro’s presence in the luxury personal care segment, known for high-profit margins. This move follows Wipro’s previous acquisitions in the consumer products space, including Glucovita, Chandrika Ayurvedic soaps, and Unza Holdings Ltd. The acquisition is expected to be completed by mid-December and will cover markets in Asia, the Middle East, Australasia, and some African regions. This strategic acquisition aligns with Wipro’s goal of diversifying its revenue streams beyond its core IT services, which still contribute significantly to its overall revenue and profit.