By Bernie Cahiles-Magkilat Dr. Rolando Hortaleza, the former owner of Splash Corp., has vowed to develop his food business focusing on high value condiments for the export and local market just like what he did to his skin whitening business to global giant Wipro Consumer Care for as much as P11 billion after a long courtship. Hortaleza told reporters he expects sales of his food business to more than double this year to P900 million from P400 million last year. He also expects doubling of sales in the next two to three years. Growth driver is the company’s famous Barrio Fiesta Bagoong (shrimp paste), which accounts for 70 percent of sales in 2018. “I see some gaps in the food market and we will launch 5 high value products within the year,” he said. These new products are largely condiments like breading. The food business is under Hortaleza’s holding firm Prime Global Corp., which also has another business unit engage in financing. He noted that the food seasoning and condiments market is huge. The shrimp paste alone is a P600 million market already. “But we have to focus on high value condiments, I don’t compete in the low value products,” said Hortaleza. So far, local sales account for 60 percent and 40 percent exports mostly to the US and Middle East. He sees the exports market growing to as much as 80 percent of total. He recalled that before Splash was sold to India’s Wipro, the food business accounts for only 10 percent of his total business while was bulk of 90 percent was personal care led by its market leader skin whitening brands Maxi Peel and SkinWhite Lotion. The sale of Splash Corp., which pioneered in the skin whitening products, has just been fully completed following the approval of Philippine Competition Commission.