Friday, 22 March 2013

Ginvera, Bio-essence joint India's Wipro Group

Wipro Ltd has signed a definitive agreement to acquire 100% of the L.D. Waxsons Group, a Singapore-based fast-moving consumer goods (FMCG) company for US$144mil (RM436.68mil) in cash.

Wipro Ltd is an information technology (IT) consulting and outsourcing service company located in India.  It was initially set up as a manufacturer of vegetable ghee, vanaspati and refined oils in Amalner, Dist:Jalgaon, Maharashtra under the trade names of Kisan, Sunflower and Camel.[8] The company logo still contains a sunflower to reflect products of the original business.
In 1966, after Mohamed Premji’s death, his son Azim Premji returned home from Stanford University and took over Wipro as its chairman at the age of 21 and turn the company into IT consulting and outsourcing services company.
Wipro Ltd have acquired Unza in Malaysia from Berjaya Group few years ago to become Wipro Unza have venture into household product.

L.D. Waxson Group, headquartered in Singapore, has a wide portfolio of brands, including leading skin care brands Bio-essence, Ginvera and Syahirah, as well as healthcare brand Ebene.

The company has manufacturing facilities in China and Malaysia and a strong footprint in Singapore, Malaysia, China, Taiwan, Hong Kong and Thailand.

“This transaction helps us consolidate our successful facial skincare business in Malaysia to a stronger leadership position, and moves us to market leadership in Singapore as well.”

Commenting on the acquisition L.D. Waxson Group chairman Dr Tor Lam Huat said: “We are happy to join Wipro, a company that shares our passion in developing brands, driven by consumer insight and innovative marketing and have seen their success in this region.

“Bio-essence’s success is driven by providing skincare products that truly perform, with visible results for consumers. We are confident that with Wipro’s marketing expertise and extensive distribution network, together we will be able take Bio-essence, Ginvera, Syahirah and other brands to new heights.”

“This acquisition propels us into a leading position in the fast-growing skin care market in South-East Asia and makes us stronger in the pharmacy channel in Malaysia and Singapore. We can leverage the strengths of the combined entities for driving efficiencies in our operations, and accelerate the growth of all our focus brands.” said Wipro Unza CFO (South East Asia, Middle East and Africa) Deepak Chandran.

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