Wipro Makes Big Splash, Acquires Largest Filipino Personal Care Company
Splash is the largest Filipino personal care player and amongst Top 5 in the Philippines market. It recorded revenues of USD 80 Mn last year.
Wipro Consumer Care today announces that it has signed a definitive agreement to acquire Splash Corporation a Philippines Personal Care Company.
This transaction strengthens Wipro Consumer care portfolio in personal care and completes the South East Asian footprint.
Splash is the largest Filipino personal care player and amongst Top 5 in the Philippines market. It recorded revenues of USD 80 Mn last year. The Company has built iconic brands, namely SkinWhite – a strong brand in body lotions, Maxi-peel the numero uno brand of Exfoliants, Vitress – a leave on hair conditioner. These brands cover a wide spectrum of personal care categories and are in leading positions in respective segments in the country
Vineet Agrawal, CEO, Wipro Consumer Care and Lighting and Executive Director Wipro Enterprises said that this is an exciting milestone for us - given their Vision of being amongst the top 3 players in Personal Care in Asia. Splash gives them a market leading position in the Philippines, which is one of the strong economies in the region and a formidable personal care market. Brands of Splash overlap with and complement their portfolio, he said. He sees tremendous opportunity to further leverage the strengths of their manufacturing, R&D and sourcing for Splash brands. Splash has a strong and stable management team. They have built this business over the years. He finds the team very passionate and entrepreneurial in nature, he said.
Dr. Rolando B. Hortaleza, CEO and founder of Splash Corporation, said that he is very glad that Splash is now part of the Wipro family. This gives them immediate access to resources and markets that will help them fuel faster and enable them to unlock the true potential of their brands. Furthermore, Wipro shares their focus of building strategy with local consumer insights, as well as an emphasis on driving operational efficiencies, he said.
Nagender Arya, Regional Director (East Asia, Africa and Europe), Wipro Consumer Care, said that this acquisition enables them to grow Wipro brands in Philippines market by leveraging Splash’s distribution strength across market segments. Splash’s brands can be expanded further to other international markets where Wipro has a strong footprint and brands have latent equity. Splash brands are not only strong in the Philippines, but also have tremendous equity in multiple international markets like Indonesia, Vietnam, Hong Kong, the Middle East and Nigeria, he said.