On Monday, Wipro Consumer Care announced its entry into the packaged food and spice market by acquiring Nirapara, one of Kerala’s top-selling traditional food brands. The business withheld the size of the transaction. A binding agreement has been signed between the Wipro group subsidiary and Nirapara, claims a press release from the business.
With this acquisition, Wipro Consumer Care joins FMCG firms like Dabur, Emami, Tata Consumer Products Ltd., and ITC which already have an existence in the spices market. Nirapara is well known for its spice blends and debuted in 1976. In terms of producing a variety of spice blends and rice powder used to make appam, idiyappam, etc., the company is the market leader.
“Nirapara is our 13th purchase and offers us a distinct presence in the spices and ready-to-cook category,” said Vineet Agarwal, Executive Director – Wipro Enterprises. The 46-year-old company, which manufactures rice powder for appam, idiyappam, puttu, dosa, and idli as well as curry spices, had an annualized turnover of 100 crores, and a final valuation of the buyout will be determined in 12 months.
Presently, Kerala accounts for 63% of Nirapara’s business, the rest of India for 8%, and the remaining 29% is generated by foreign markets, primarily the Gulf Cooperation Council (GCC) countries. Anil Chugh, executive director of Wipro Enterprises and director of Wipro Consumer Care and Lighting, asserted that there is a significant opportunity to shift consumers from the unorganized to the organized sector by offering real, trustworthy, and pure spice blends.
Wipro Consumer Care and Lighting, a division of Wipro Enterprises, is one of the FMCG companies in India with the speediest sales growth. The company reported sales of Rs 8,630. It has a strong brand image and a sizable market share in Africa, the Middle East, Southeast Asia, and India.
It is a sizable industry that is likely to expand quickly, especially in areas where there is a concentration of Indian diaspora, claims Agrawal. We’ll start out by concentrating on West India and the Southern region.