Splash acquiring local condiments firm

Beauty products manufacturer Splash Corp. is diversifying into food manufacturing with a deal to acquire 80 percent of Barrio Fiesta Manufacturing Corp. for P472 million.

The acquisition, which seeks to boost the company’s position in the fast-moving consumer good 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,” said Splash chief executive officer Rolando Hortaleza. “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 produces and sells meal essentials and condiments used in everyday meals of Filipinos locally. These products 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 in our marketing and distribution capabilities in specific countries,” Hortaleza said.

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

Founded in 1985, Splash grew from a P12,000 backyard business into a P4-billion enterprise under the auspices of the Hortalezas. It carries the brands Extraderm, Maxi-Peel and Skin White as well as one of the fastest growing skin care brands in the Philippines.

Barrio Fiesta Manufacturing was established in 1987 to bring to the tables of Filipino families high quality food and to share the experience they gained in Barrio Fiesta restaurants since 1958. Its products range from sautéed shrimp paste to ready-to-eat canned meals, sauces such as white vinegar, fish sauce, soy sauce and lechon (roast pig) sauce, to fruit preserves and other condiments. In keeping with its commitment to home-style cooking, Barrio Fiesta products have no preservatives.