New Delhi: Wipro Consumer Care has announced its entry into the packaged food and spice segment by acquiring Nirapara, one of the largest-selling traditional food brands in Kerala.
Though the deal size has not been announced, the company said it has signed a definitive agreement with the Kalady-based KKR Group who owns the Nirapara brand.
This is 13th brand acquisition for the Wipro arm and the second one after 'Chandrika' from Kerala.
In 2013, Wipro announced entering into a definitive agreement with Kerala-based SV Products to acquire the long-term lease rights of the Ayurvedic soap brand "Chandrika" for use in India and SAARC nations.
Wipro consumer care has a diverse portfolio and includes leading brands like Santoor, Glucovita, Chandrika, Wipro Safewash and Wipro Garnet.
Nirapa acquisition
With the latest acquisition, Wipro Consumer Care joins FMCG firms suLaunched in 1976, Nirapara is known for its blended spices. The brand leads in producing a large variety of spice mixes, and rice powder used in making 'appam', 'idiyappam', etc.
Presently, Nirapara's 63 per cent business comes from Kerala, 8 per cent from rest of India and the remaining 29 per cent from international markets, largely Gulf Cooperation Council (GCC) countries.
"Nirapara is our 13th acquisition and gives us a clear foothold in the spices and read-to-cook segment," Wipro Consumer Care and Lighting and Executive Director - Wipro Enterprises Vineet Agarwal said.
Wipro Consumer Care and Lighting and Executive Director Wipro Enterprises Anil Chugh said there is a huge opportunity in this space for shifting consumers from unorganised to organised market by offering authentic, pure and trusted spice mixes.
The company recorded a revenue of Rs 8,630 crore in FY22 and its business includes personal wash products, toiletries, facial care products, wellness products, home care products, electrical wire devices, domestic and commercial lighting and seating solutions.
It has a strong brand presence with significant market share across segments in India, Southeast Asia, the Middle East and Africa.
(With PTI inputs)
