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Wipro Consumer Care enters South Africa with Canway acquisition
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New Delhi, Dec. 3 -- Wipro Consumer Care and Lighting said on Tuesday it has signed a definitive agreement to acquire South Africa-based personal care company Canway Corp. that markets brands such as Oh So Heavenly, Iwori and IQ. transaction is expected to be completed by January-end.
The transaction value was not disclosed. Canway posted revenues of around $21 million last year.
Wipro Consumer, the $1 billion plus arm of Wipro Enterprises, has spent $950 million in acquisitions so far and Canway is its 12th acquisition in the last 16 years and the second one this year. In April, it acquired Splash Corp., Philippines's largest personal care company.
Oh So Heavenly, which contributes 80% of Canway's sales, is a popular personal care bra...
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