Wipro acquires Philippines personal care brand

Wipro acquires Philippines personal care brand

Wipro Consumer Care on Monday announced that it had signed a definitive agreement to acquire Splash Corporation, a Philippines-based personal care company for an undisclosed sum.

The company said that this transaction would help strengthen the Wipro consumer portfolio in the personal care space and would build on their South East Asian footprint.

Talking about the acquisition, Vineet Agarwal, CEO, Wipro Consumer Care and Lighting and Executive director, Wipro enterprises said, "This is our 11th acquisition in the consumer line range, and the ninth in the personal care space specifically. It gives us an entry into the Philippines, where we have a very small presence presently. Splash works in categories we understand and do well in. They have 15 % of their market share outside the Philipines. We hope that it would help us strengthen our position in countries across South East Asia. As part of the deal, we will also be acquiring their manufacturing plant, that will be our 16 manufacturing unit. Rolando Hortaleza, the CEO and founder of Splash Corporation will stay on as a consultant. We will also get the chance to tap into the potential of a 300 plus team that knows the product and the country well."

Splash is the largest local Filipino personal care player that recorded revenues of $80 million last year. The company's personal care brands include SkinWhite(soaps and body lotions), Maxi-peel(exfoliants), Vitress(hair conditioners).

"This acquisition enables us to grow Wipro brands in the Philippines by leveraging Splash's distribution strength. Splash brands are not only strong in the Philippines, but also in international markets such as Indonesia, Vietnam, Hong Kong, the Middle East, and Nigeria," Nagendra Arya, Regional Director (East Asia, Africa, and Europe), Wipro Consumer care said in a statement.  

Wipro Consumer Care's recent big-ticket acquisitions include Yardley, LD Waxson Unza Holdings and Zhongshan among others. The company also bought a minority stake in domestic consumer products firm Happily Unmarried Marketing for the Ustraa personal care range.