Wipro Consumer Care acquires Splash Corporation
Splash is the largest Filipino personal care player and is placed among the top five in that market
- Published 30.04.19, 12:57 AM
- Updated 30.04.19, 12:57 AM
- 2 mins read
Wipro Consumer Care is acquiring Splash Corporation, a personal care company based in the Philippines, for an undisclosed sum.
The transaction is expected to strengthen the consumer care portfolio in personal care apart from completing its South East Asian footprint.
Splash is the largest Filipino personal care player and is placed among the top five in that market. It recorded revenues of $80 million last year. The company has built well known brands such as SkinWhite — a strong name in body lotions, the exfoliant brand Maxi-peel and Vitress — a leave-on hair conditioner. While they cover a wide spectrum of personal care categories, Wipro Consumer said in a statement they were in leading positions in their respective segments in the country.
In November 2012, the board of Wipro had approved the demerger of its consumer care & lighting (including the furniture business), Wipro Infrastructure Engineering (hydraulics & water businesses), and medical diagnostic product & services business into a separate unlisted company called Wipro Enterprises Ltd.
The demerger was done with a view to improve their competitiveness in the respective markets and enable them to pursue their own strategies. Some of its brands include Santoor, Chandrika, Yardley and Glucovita.
“This is an exciting milestone for us — given our vision of being amongst the top three players in personal care in Asia. Splash gives us 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 our portfolio, “Vineet Agrawal, CEO, Wipro Consumer Care and Lighting, and executive director of Wipro Enterprises said.
“I see tremendous opportunity to further leverage the strengths of our manufacturing, R&D and sourcing for Splash brands. Splash has a strong and stable management team. They have built this business over the years,” Agarwal said.
Splash brands are also available in Indonesia, Vietnam, Hong Kong, West Asia and Nigeria.
The company had made several acquisitions in the past. It has a strong brand presence across segments in India, South East Asia, West Asia and Africa.
It has 15 manufacturing units in China, India, Indonesia, Malaysia and Vietnam apart from R & D facilities in India and Malaysia.
“This acquisition enables us to grow Wipro brands in the 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, Middle East and Nigeria.” Nagender Arya, Regional Director (East Asia, Africa and Europe), Wipro Consumer Care observed.