Wipro Consumer Care and Lighting, a part of Wipro Enterprises, on Monday announced the acquisition of Nirapara, a Kerala-based packaged rice powder and spice mixes brand.
The move comes a few months after Wipro announced its plans to foray into the packaged foods business. Nirapara was launched in 1976 and is owned by KKR Group of Companies. It is best known for its blended spices and ready-to-cook rice powder products. It has an annualised revenue of Rs 100 crore.
About 63% of its revenue comes from Kerala, while the bulk of the rest comes from GCC countries that have a strong diaspora Population from Kerala, said Wipro Consumer Care CEO Vineet Agrawal. Nirapara is our 13th acquisition and gives us a clear foothold in the spices and ready-to-cook segment, he added.
The final deal price will be determined after 12 months and will be based partially on the performance of Niraparas products during that period. Wipro Consumer Care is best known for its soap brand Santoor and Yardley talcum powder and recorded a revenue of Rs 8,630 crore in the last financial year.