Splash to go into food business

MANILA, Philippines—Personal care product manufacturer Splash Corp. is diversifying into food manufacturing with a deal to acquire 80 percent of Barrio Fiesta Manufacturing Corp. for P472 million.

This acquisition, which seeks to boost the company’s position in the fast-moving consumer goods segment, does not include the Barrio Fiesta chain of restaurants.

“Acquiring a legacy brand such as Barrio Fiesta definitely establishes our place in the food industry,” Splash chief executive officer Rolando Hortaleza said in a press statement. “As in the personal care business, which we have built for 26 years, we intend to establish our mark in the food industry, starting off with the Barrio Fiesta brand of products. This will propel the company to be a major player in this industry.”

The manufacturing unit has under its wing various meal essentials and condiments used in everyday meals of Filipinos here domestically and are also exported and consumed by overseas Filipinos.

“We intend to be big in this sector of the food industry, because we believe with the Barrio Fiesta brand, we now have a credible brand name that evokes images of tasty and quality food, memories of celebration and Filipino tradition, that we can expand to other food  lines and which, we can capitalize on our marketing and distribution capabilities in specific countries,” Hortaleza said.

Splash plans to launch various food products in the next one to two years as part of its plan  for the company to be a major player in the food industry.