The consumer care business of software provider Wipro Ltd has made its second overseas acquisition this year with a deal to buy a South African brand.
Wipro Consumer Care & Lighting has bought Canway Corporation, which markets its offerings in categories such as bath & shower, hand creams, fragranced body sprays, and kids’ products through brands such as Oh So Heavenly, Iwori and IQ. The deal amount was not disclosed.
“This is our 12th acquisition in the last 16 years. This acquisition gives Wipro Consumer a significant entry into South Africa and other African markets,” said Vineet Agrawal, chief executive at Wipro Consumer Care & Lighting.
Canway sells its Oh So Heavenly brand items through Clicks, one of the leading health and beauty retailers in South Africa.
“We are confident that with Wipro’s marketing expertise and its international distribution network, we will significantly expand our geographical presence and take our brands to new heights,” said Andre Barnard, founder of Canway.
Wipro Consumer Care & Lighting’s South African acquisition comes after the consumer care business acquired Filipino personal care firm Splash(https://www.vccircle.com/wipro-s-consumer-arm-acquires-filipino-personal-care-firm-splash/) in April this year. With the purchase of Splash came brands including SkinWhite (body lotions) and Vitress (hair conditioner).
Wipro Consumer Care & Lighting has made a number of overseas acquisitions(https://www.vccircle.com/wipro-s-consumer-arm-acquires-chinese-fmcg-firm/) in the past. In 2016, it bought Chinese fast-moving consumer goods company Zhongshan Ma Er Daily Products Ltd in an all-cash deal.
Its first acquisition was in 2003, when it bought Glucovita, a glucose brand from Hindustan Unilever. In subsequent years, it added Chandrika (2004), Unza (2007), Yardley - Middle East, North Africa and Australasia (2009), Yardley UK (2012), and LD Waxsons Group (2012).
Wipro Consumer Care & Lighting has also launched a venture capital fund called Wipro Consumer Care–Ventures.