Wipro Ventures into Italian Market with Ferretto Automation Stake Acquisition

13 Oct, 2023

Wipro Ventures into Italian Market with Ferretto Automation Stake Acquisition

Wipro Enterprises' industrial automation division, Wipro Pari, is set to acquire a majority stake in Ferretto Automation & Services, an Italy-based company, in an undisclosed transaction. Wipro Pari, which operates under Wipro Infrastructure Engineering, has entered into a definitive agreement to secure a "significant majority share capital" of Ferretto Automation & Services, as stated in a joint announcement. It's important to note that Ferretto Automation & Services is a subsidiary of the Ferretto Group, situated in San Polo-Reggio Emilia. Unfortunately, specific financial terms of the deal were not disclosed.

According to the joint statement, the Ferretto Group will retain a minority interest in the project, with Riccardo Ferretto appointed as the Chairman and Managing Director of the new company. He will be responsible for overseeing the overall business activities.Ferretto Automation & Services specializes in the design and manufacturing of automated storage systems, offering a comprehensive range of cutting-edge intra-logistics automation solutions that cater to various storage, handling, and distribution requirements. The annual revenue of Ferretto Automation & Services is estimated at around 70 million euros (approximately Rs 617 crore).

Wipro Enterprises, under the leadership of Azim H Premji, operates in two distinct business verticals. The first is Wipro Consumer Care and Lighting, which encompasses the fast-moving consumer goods (FMCG) sector and includes businesses in lighting, switches, and office furniture. The second vertical, Wipro Infrastructure Engineering, is a diversified engineering enterprise that operates in hydraulics, water treatment, additive manufacturing, aerospace, and automation solutions.

Kumar, who serves as both the CEO of Wipro Infrastructure Engineering and Wipro Pari, expressed that this acquisition is poised to expand our portfolio well beyond factory-centric automation solutions. It opens up new avenues in the industrial, consumer products group (CPG), retail, and e-commerce sectors, encompassing warehousing, storage, and automation solutions.

Riccardo Ferretto, Chairman and Managing Director of Ferretto Group, highlighted their leadership in warehousing automation technology, particularly in the domain of Multi-depth Automated Storage and Retrieval Systems (ASRS) equipped with stacker cranes and shuttles.