Wipro Consumer Care acquires Brahmins, a Kerala-based food brand
Wipro Consumer Carehas recently purchased Brahmins, a Kerala-based food brand, in a cash deal. Brahmins focuses on traditional vegetarian, spice mix, and ready-to-cook products and recorded sales of Rs. 120 crores in the fiscal year 2023 (Fy23).
This acquisition is the 14th that Wipro Consumer Care and Lighting has completed in the last 20 years, having invested slightly over $1 billion in total.
Wipro is trying to create its own snack brand and is looking to become a significant player in the packaged food segment. The company is focusing on three categories: ready-tocook, spices, and snacks.
According to Mr. Vineet Agrawal, CEO of Wipro Consumer Care and Lighting and Managing Director of Wipro Enterprises, the estimated size of the spices market in India is Rs. 72,000 crores, with straight spices accounting for around Rs. 55,000 crore and blended spices for around Rs. 12,000–15,000 crore. The ready-to-cook category has an estimated market size of Rs. 3,400 crores.
Wipro is planning to expand its footprint in the Kerala market, which makes up 66 percent of Brahmins’ sales. Four percent of its sales come from the rest of the country, and the remainder comes from exports. The company also plans to tap into the southern population and exports. Wipro will absorb Brahmins’ current workforce, excluding the manufacturing workforce, which the original owner of the company will continue to manage. Brahmins have a headcount of around 280 people.
Established in 1987, Brahmins is a popular brand in its home market, offering ethnic breakfast pre-mix powders, spice mixes, straight powders (spices), wheat products such as pickles, dessert mixes, and others. Its premium flagship products are sambar powder and puttu podi.
Mr. Sreenath Vishnu, MD of Brahmins, said, we are happy that Brahmins is now a part of Wipro Consumer Care Foods. This will enable access to resources that will help the brand grow rapidly. We are jointly focused on developing the brand, supported by local consumer insights, and streamlining manufacturing.
In terms of investing, Wipro plans to upgrade Brahmins’ current plants and add manufacturing. However, Agrawal said, it is not very significant given the size of the need. These are not very expensive. Manufacturing will remain with the current owners for the next six years.