Wipro consumer biz acquires Philippines-based firm Splashhttps://indianexpress.com/article/business/companies/wipro-consumer-biz-acquires-philippines-based-firm-splash-5701572/

Wipro consumer biz acquires Philippines-based firm Splash

Splash Corporation’s acquisition is Wipro’s eleventh in the consumer line business and ninth in the personal care segment.

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Wipro indicated Splash recorded revenues of million (Rs 558 crore) in 2017-18. The company has built brands like SkinWhite, Maxi-peel, and Vitress.

After a gap of almost three years, Wipro Consumer Care — part of Azim Premji’s Wipro Group — on Monday struck a new deal in the consumer goods space by acquiring the Philippines-based personal care company Splash Corporation for an undisclosed amount. The transaction strengthens Wipro’s consumer care portfolio in personal care and completes its south east Asian footprint.

This is Wipro’s eleventh acquisition in the consumer line business and the ninth in the personal care segment. The company has already made five acquisitions in the domestic market in the consumer line business and several other in the overseas market.

Wipro indicated Splash recorded revenues of $80 million (Rs 558 crore) in 2017-18. The company has built brands like SkinWhite, Maxi-peel, and Vitress. It is the largest Filipino personal care player and among the top five in the Philippines market.

Splash brands also have a strong presence in several international markets such as Indonesia, Vietnam, Hong Kong, west Asia and Nigeria. Wipro Consumer’s other acquisitions in the overseas market include UK’s Yardley, Singaporean personal care company LD Waxson Unza Holdings and China’s Zhongshan among others. Wipro also bought minority stake in consumer products firm Happily Unmarried Marketing for its Ustraa personal care products range.

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Vineet Agrawal, CEO, Wipro Consumer Care and Lighting, said brands of Splash overlap with and complement the firm’s portfolio.

“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,” he said. Wipro Consumer Care’s businesses include personal wash products, toiletries, personal care products, wellness products, electrical wire devices, domestic and commercial lighting and modular office furniture.