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).