Wipro Consumer Care Lighting (WCCL), a subsidiary of the tech company, Wipro has acquired a consumer goods company after a gap of nearly three years.
As per Wipros press statement, the tech company has bought Splash Corporation in the Philippines for an undisclosed amount. Splash Corporation is renowned for being the largest personal care firm in the Philippines.
With this acquisition, WCCL will create its own brands in the Philippines by using Splashs distribution forte in the market.
WCCL has so far created renowned brands such as Vitress (a hair conditioner), SkinWhite (a range of body lotions) and Maxi-peel (an exfoliant).
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, Vineet Agrawal, chief executive of WCCL, said to the Indian daily news, VC Circle.
The Philippines based-company, Splash brands has established its footprint in various international markets as well such as Vietnam, Hong Kong, Nigeria and the Middle East. In FY 17-18, Splash has earned revenue of $80 million.
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, Rolando B Hortaleza, CEO and founder of Splash Corporation, said to the Indian daily news, VC Circle.