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The FMCG arm of IT Major Wipro, Wipro Consumer Care and Lighting, has acquired the personal care business of Yardley in the Asia, Middle East, Australasia and some African markets from Britain-based Lornamead group. The acquisition is worth $45.5 million.
"The acquisition of Yardley business is on run-rate basis of $24 million for this fiscal (FY 2010)," the company said in a regulatory filing, adding that the transaction will conclude by mid-December.
Yardley had been procured by Lornamead from Procter & Gamble in 2005. The European and American business will be maintained by Lornamead.
The 239-year-old Yardley offer a range of personal care products including fragrances, bath and shower products and skin care.
"The brand has a strong equity globally in markets, including Asia, Middle East, Australasia and Africa," the company said in a statement later.
