Splash buys 80% of Barrio Fiesta food manufacturing unit

MANILA, Philippines—Beauty product manufacturer Splash Corp. has sealed its purchase of an 80 percent stake in the food manufacturing unit of the Barrio Fiesta restaurant group, marking its diversification into the food  business.

Splash told the Philippine Stock Exchange on Thursday that the purchase of the Barrio Fiesta Manufacturing Corp., earlier valued at P472 million, was consummated on September 7. This acquisition, which seeks to boost the company’s position in the fast-moving consumer good (FMCG) segment, does not include the Barrio Fiesta chain of restaurants.

The manufacturing unit produces and sells meal essentials and condiments used in everyday meals of Filipinos domestically, which are also exported and consumed by overseas Filipinos.  It has a factory in Malabon City.

Splash acquired the brand to capitalize on its strong brand awareness and existing distribution channel overseas especially in the US.  The company aims to use this acquisition as its platform to become a major player in the food industry.

Splash, which is led by the Hortaleza family, plans to launch various food products in the next one to two years as part of its plans for the company 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. 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, ready-to-eat canned meals, sauces such as white vinegar, fish sauce, soy sauce and lechon sauce; to fruit preserves and other condiments. In keeping with its commitment to home-style cooking, Barrio Fiesta products have no preservatives.