Wipro Consumer Care and Lighting has announced the acquisition of Brahmins — the Kerala-based traditional vegetarian, spice mix and ready-to-cook brand — thus, further consolidating its presence in the foods segment.
At a press meet in Kochi on Thursday, Anil Chugh, President (Foods Business), Wipro Consumer Care, declined to reveal the acquisition amount, but added that the company has invested over $1 billion in all the acquisitions in the last 20 years.
“This is our 14th acquisition after the recent takeover of Nirapara brand in Kerala and the company is looking at becoming a sizable player in the packaged foods segment to expand and further consolidate its spices, breakfast and ready-to-cook category,” he said.
“It is time for us to go for strategic partnership to grow to the next level. We can now focus more on manufacturing and we will continue to serve our customers with new products. With Wipro’s distribution strength, network and marketing expertise, we will significantly expand our geographical presence and scale to newer heights,” said Sreenath Vishnu, Managing Director, Brahmins.
Established in 1987, Brahmins is one of the most preferred brands in Kerala, with ethnic breakfast pre-mix powders, spice mixes, straight powders (spices), wheat products such as pickles, dessert mixes and others. The premium flagship products are sambar powder and puttu podi.
Quoting figures, Chugh said the market size of the spices sector in the country is estimated at ₹72,000 crore and it is growing at a CAGR of 12 per cent. The blended spice market is estimated at ₹12,000 crore with a CAGR of 15 per cent and the ready-to-cook category at ₹3,400 crore with a growth rate of 19 per cent.
Brahmins is a strong and legacy brand in Kerala in the ready-to-cook and spices markets with a profitable growth. “Adding Brahmins under the Wipro fold will further strengthen our position in blended spices and ethnic breakfast categories in various markets including GCC countries, the UK, the US and Australia, especially when the company is looking at expanding its food business spices and RTC,” said Chugh.
Sachin Bansal, CFO, Consumer Care & Lighting (India and South Asia), said the acquisition will be a mutually beneficial partnership that will accelerate expansion of the Brahmins’ portfolio on one hand and embolden Wipro’s foundation into the food business. Kochi-based investment banking firm Kafco Backwater advised Brahmins on this transaction.