Wipro arm acquires Filipino firm

Wipro Consumer Care & Lighting (WCCL), part of the billionaire Azim Premji-led Wipro Group, has acquired Splash Corporation, known to be the largest personal care company in the Philippines, for an undisclosed sum. The acquisition will enable WCCL to build its own brands in the Philippines by leveraging Splash's distribution strength across market segments. The company has built iconic brands, namely SkinWhite (body lotions), Maxi-peel (exfoliant) and Vitress (hair conditioner). Vineet Agrawal, chief executive at WCCL, said: “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.” Splash brands also have a strong presence in multiple international markets like Indonesia, Vietnam, Hong Kong, the Middle East and Nigeria. The Splash Corporation has recorded revenues of $80 million (Rs 558 crore) in the financial year 2017-18. Rolando B Hortaleza, CEO and founder of Splash Corporation, said: “This gives us immediate access to resources and markets that will help us fuel faster and enable us to unlock the true potential of our brands.”