India-based Wipro Consumer Care International (WCCI) is acquiring local personal care firm S Brands Consumer Care Inc. to deepen its presence in the Philippines.

WCCI signed a definitive agreement on Tuesday, July 21, to purchase 100 percent of S Brands' shares, marking its second major acquisition in the country.

While the financial terms were not disclosed, WCCI Chief Operating Officer (COO) Nagender Arya said the deal was priced at a “good value.”

“It's a good brand, so we believe we paid the right price,” Arya told reporters. Barring regulatory hurdles, he expects WCCI to complete the transaction by August.

Founded by Dick Sy Ong, S Brands is a key player in the local personal care market, with a portfolio that includes KERATINplus, AlcoPlus, Fiona Cologne, Grips, DeoPlus, and Empress.

WCC, meanwhile, is the international division of Wipro Consumer Care, the fast-moving consumer goods (FMCG) arm of Indian conglomerate Wipro. In 2019, WCCI made its first Philippine acquisition by buying Splash Corp., home to iconic local brands such as SkinWhite, Maxi-Peel, and Vitress.

Arya noted that the deal aligns with WCCI’s strategy to invest in high-growth emerging markets. The Philippines currently serves as WCCI’s fourth-largest personal care market in Southeast Asia.

Bringing S Brands under the WCCI umbrella strengthens the company’s position as a market leader, particularly by expanding its reach into the hair treatment and mass-fragrance categories.

Operations at S Brands will remain unchanged, though WCCI plans to leverage its global distribution network to expand the local company’s footprint overseas. S Brands could soon tap into markets where WCCI already has a strong foothold, including Malaysia, Vietnam, Indonesia, South China, Hong Kong, and the Middle East.

WCCI aims to introduce S Brands products abroad within six months to a year, depending on demand in specific regions.

With S Brands recording steady year-on-year growth, Arya said WCCI is targeting accretive growth—outperforming the market average.

“That's in Wipro's track record. With all the businesses we have acquired, we've been able to generate better growth than in the past,” he said.

Despite broader consumer concerns tied to inflation, WCCI expects demand for personal care products to remain resilient this year.

“We are a daily-use product company, and we believe we will be able to handle the slowdown better than some other companies,” Arya added.

Since 2003, WCCI has spent more than $1.1 billion across 16 strategic acquisitions globally, with S Brands as its latest addition. WCCI operates in over 60 countries, boasting a portfolio of more than 30 leading brands and annual global revenues exceeding $1.2 billion.