Wipro Consumer Care International (WCCI), the consumer goods arm of Wipro Enterprises, said on Tuesday that it will acquire Philippines-based personal care company S Brands Consumer Care Inc, to strengthen its presence in Southeast Asia.
The transaction marks WCCI's 16th acquisition globally and its second in the Philippines, it said. The company will acquire a 100% stake in S Brands, although the financial terms of the deal were not disclosed.
Founded by Dick Sy Ong, S Brands’ portfolio includes hair treatment brand KERATINplus, hygiene brand AlcoPlus, powder deodorant DeoPlus, haircare brand Empress, and fragrance brand Fiona Cologne.
Following the acquisition, the Philippines will become WCCI's third market outside India to generate annual revenues of over Rs 1,000 crore ($103.9 million).
“S Brands brings a portfolio of trusted, category-leading brands that complement our existing presence across the region and strengthen our position in key growth markets,” said Kumar Chander, CEO of Wipro Consumer Care & Lighting and managing director of Wipro Enterprises.
WCCI operates in over 60 markets across Asia, the Middle East, and Africa, and has expanded through a combination of organic growth and acquisitions.
The latest deal follows WCCI's acquisition of Philippines-based personal care company Splash in 2019.
Earlier, in 2016, the company acquired Chinese fast-moving consumer goods (FMCG) company Zhongshan Ma Er Daily Products Ltd in an all-cash deal.
WCCI made its first acquisition in 2003, buying the Glucovita glucose brand from Hindustan Unilever. It subsequently acquired Chandrika (2004), Unza (2007), Yardley’s businesses in the Middle East, North Africa and Australasia (2009), Yardley UK (2012), and LD Waxsons Group (2012).
