MANILA, Philippines - Splash Corp., a leading Filipino-owned beauty and personal care products maker, is setting its sights on acquisitions overseas through its recently formed holding company in Singapore.
Dr. Rolando Hortaleza, chairman and chief executive officer of Splash, said the new company – Splash Global Pte. Ltd. – would serve as the group’s vehicle for possible mergers, acquisitions or joint ventures in the international markets.
“We are very excited about the opportunities the international market presents our company. By firming up our position in the Asean and Indochina markets, we are confident we can obtain the growth targets we set in 2011,” Hortaleza said.
He said the company is looking at brands or companies that would help solidify Splash’s presence abroad. He, however, pointed out that the company remains on the lookout for other possible acquisitions in the Philippines.
International operations account for over 10 percent of Splash’s total revenues. The company expects to register revenues of around P3 billion in 2010 or 15 percent higher than the P2.71 billion registered a year earlier.
For this year, Splash is looking at a more than 20 percent rise in revenues.
“For the international markets, we’re prioritizing Southeast Asia and Indochina. These are the markets we are aggressively penetrating and investing on this year,” said Eric Domagas, president and chief operating officer of Splash.
“We are also further expanding our presence to take care of commercial distribution. We are securing additional distribution firms in the aforementioned markets.”
Splash also formed a distribution unit in Malaysia called Splash H & B Sdn. Bhd. that will help widen its market reach in the Asean area.
Splash products are now available in Indonesia, Malaysia, Vietnam, Myanmar, Laos, and Cambodia. It is also sold in the Middle East and Africa.