Emami to acquire Philippines-based Splash Corp: Sources

Kolkata-based FMCG Player Emami is on the prowl for acquisition to strengthen its market position, especially in the international space.

Sources tell CNBC-TV18 that the company is in initial discussions to acquire Philippines-based personal care product manufacturer, Splash Corporation. Also read: Growth around 13-15% despite little slowdown in FMCG: Emami The South East Asian firm has a turnover of around USD 80 million, with focus on manufacturing and marketting personal care products such as exfoliant and skin whitener. The deal, if it goes through, is likely to be pegged at around Rs 200 crore. In a report in Espirito Santo India, consumers say that the company can boost the existing product portfolio through more skin whitening and moisturising brands. It further states that Emami, with a net cash of Rs 1.87. billion at the end of FY13, wil see a,minimal FY15 EPS impact. The FMCG major has been focused on expanding its international presence to Sri Lanka, Pakistan, Afghanistan and West Asia. Emami , with a  liquid cash of about Rs 300 crore can use it in viable acquisitions. The company will likely finalise a banker in the next week . In a mail to CNBC-TV18, the company said, “While we constantly keep evaluating opportunities for inorganic growth that are in sync with our company’s vision and growth strategies, we are presently not contemplating acquisition in Philippines, as is being speculated.”