Personal care: Wipro arm acquires Philippines firm Splash
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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. The company said that it has acquired 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 11th 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 (`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, Singapore-based persoanl care company LD Waxson Unza Holdings and China’s Zhongshan among others.
Wipro also acquired a minority stake in consumer products firm Happily Unmarried Marketing for its Ustraa personal care products range.
Vineet Agrawal, CEO at Wipro Consumer Care and Lighting and executive director, Wipro Enterprises, 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. It has a presence with significant market share across segments in India, South East Asia, West Asia and Africa.
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