Wipro Consumer Care has acquired a Philippines-based personal care firm Splash Corporation to strengthen its presence in the personal care segment in India. This acquisition will help boost Wipro’s personal care segment as Splash is one of the world’s leading players in the personal care segment. This transaction will strengthen Wipro’s portfolio in personal care and complete the South-East Asian market.
Splash is the largest Filipino personal care player and amongst the top five in that market with revenue of $80 million in 2018. Splash gives them an entry into the Philippines where their presence is quite insignificant at the moment.
This acquisition marks their 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. The new acquisition meets our internal return on investment threshold which is in double digit.
