Wipro acquires Philippines-based personal care company Splash
It will be 11th acquisition of Wipro in consumer line business, and the 9th acquisition in personal care segment overall.
Wipro Consumer Care has reportedly announced that it has signed a definitive agreement to acquire a Philippines-based personal care company Splash Corporation for an undisclosed amount. The transaction will strengthen consumer care portfolio of Wipro in personal care. It will also fortify the company’s footprint in South-East Asia.
Reportedly, it will be 11th acquisition of Wipro in consumer line business, and the 9th acquisition in personal care segment overall. The company has already made 5 acquisitions in consumer line business in the Indian market and many other in the overseas market.
The acquisitions by Wipro consumer in overseas market include Singapore-based personal-care firm LD Waxson Unza Holdings, China’s Zhongshan and the UK’s Yardley among others. Wipro has also purchased a minority stake in consumer products company Happily Unmarried Marketing Pvt. Ltd for its Ustraa personal care products range.
Nagender Arya, Regional Director (East Asia, Africa and Europe), Wipro Consumer Care, reportedly stated that the acquisition will allow the company to grow Wipro Brands in Philippines market by leveraging distribution strength of Splash across market segments. The brands of Splash can be expanded further to other international markets where Wipro’s footprint is strong and brands have latent equity, he further stated.
According to reliable sources, Splash brands also have tremendous equity in Middle East, Vietnam, Nigeria, Hong Kong and Indonesia.
For the uninitiated, the brand portfolio of Wipro Consumer includes Wipro Smartlite, Glucovita, Chandrika, North West and Santoor in India. The market leaders in ASEAN countries include Romano, Safi, Enchanteur and Bio- essence.
For the record, Splash is a major Filipino personal care player. The company is amongst the top 5 personal care companies in the Philippines market. It has recorded $80 million of revenues last year. The personal care brands of Splash include Maxi-peel, SkinWhite, and Vitress.
Source credit: https://www.livemint.com/companies/news/wipro-acquires-personal-care-company-in-phillippines-1556524262690.html
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Pankaj Singh
Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With experience in technical and niche w...