Splash had a turnover of $80 million last year and it's among the top five firms in its category in Philippines. Splash’s brands include SkinWhite (body lotions), Maxi-peel (exfoliants) and Vitress (hair conditioners).
“This is our 11th acquisition in consumer business and it reinforces our commitment to continue to invest in emerging markets to build a strong portfolio of local jewels that have created a niche market for themselves,” said Raghav Swaminathan, chief financial officer at Wipro Enterprises, on Monday.
The deal gives Wipro a strong foothold in the Philippines market, said Vineet Agrawal, chief executive officer, Wipro Consumer Care and executive director at Wipro Enterprises. “I see tremendous opportunity to further leverage the strengths of our manufacturing, R&D and sourcing for Splash brands,” he added.
Wipro Consumer Care, which started in 1945, has products in toiletries, personal care, wellness, electrical, lighting and furniture. Some its brands include Santoor, Romano and Yardley.
Wipro Consumer Care has significant presence in India, Malaysia, Indonesia, Vietnam, China, Taiwan, Hong Kong and Middle East, with 8 production plants in India and 7 overseas.