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Wipro Consumer Care to acquire China-based Zhongshan Ma Er Daily Products

Wipro Consumer Care and Lighting is all set to acquire China-based Zhongshan Ma Er Daily Products.

By: | Updated: September 22, 2016 4:43 PM
Wipro Consumer Care Zhongshan Ma Er Daily Products Wipro Consumer will acquire 100% stake in Zhongshang Ma Er. (File Reuters Photo)

Wipro Consumer Care and Lighting is all set to acquire China-based Zhongshan Ma Er Daily Products. According to television reports, the transaction will be an all-cash deal. Zhongshang Ma Er is a Chinese FMCG company. Wipro Consumer will acquire 100% stake in Zhongshang Ma Er. The acquisition is likely to help Wipro’s Consumer Care arm gain foothold in South China’s personal care market. A definitive agreement has been signed.

Post the acquisition, Wipro Unza will touch an annual run rate of close to RMB 1 billon ($150 million).

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