Wipro Consumer Care and Lighting, the FMCG arm of Wirpo Enterprises, on Thursday announced that it has entered a definitive agreement to acquire 100 per cent shareholding in Zhongshan-based Ma Er to boost its presence in the fast growing toiletries and liquid detergent space in South China.
The deal ,which is expected to gain regulatory approvals by the end of October ,will be the company's second largest acquisition after Unza Holdings Ltd., that it acquired back in 2007 for $246 million. Wipro did not disclose the financials of the deal citing a confidentiality agreement with the seller.