Splash expands equity holdings in Barrio Fiesta

Splash Corp. has increased its shareholdings in condiment firm Barrio Fiesta Manufacturing Corp.

 

In a disclosure to the Philippine Stock Exchange on Friday, Splash said its board approved the acquisition of an additional 3 percent of Barrio Fiesta Manufacturing for P14 million.

 

Splash currently owns 80 percent of the food manufacturing unit of Barrio Fiesta, which produces sauteed shrimp paste, ready-to-eat canned goods, sauces (including white vinegar, fish sauce, soy sauce and lechon sauce), fruit preserves and other condiments.    

 

Owned by the Hortaleza family, Splash acquired Barrio Fiesta Manufacturing to capitalize on the food company's strong brand awareness and distribution channels abroad, especially in the US. 

 

Splash aims to be a major player in the food industry by expanding its food lines and capitalizing on its marketing and distribution capabilities in specific countries.

 

The group, through Splash Foods,  plans to launch various food products  here and abroad over the next two years.

 

 Splash earlier acquired 100 percent of Moondish Foods Corp., which pioneered the first ever ready-to-eat “laing or taro leaves in coconut cream in can.” — VS,GMA News