In a recent interview, Splash chief financial officer Veneranda Tomas said the initial strategy of the company involves the expansion of Barrio Fiesta Manufacturing’s distribution network.

She said products offered by the food company are only present in 30 percent of the outlets where Splash products are being sold.

“Just by sheer expansion in distribution we can double the sales of the Barrio Fiesta brand,” she said. The company is pursuing additional revenue streams via products extension and exports.

Barrio Fiesta Manufacturing booked P99.83 million in sales in 2010 while net income reached P1.75 million, data from the Securities and Exchange Commission showed. Current sales figures were not immediately available.

Tomas said Splash is open to new acquisitions in the food sector although the company will only focus on targets involved in what the company calls as “meal essentials.”

Splash completed the acquisition of an 80-percent stake in Barrio Fiesta Manufacturing in September in a deal valued at P472 million. The company will be operated under subsidiary, Splash Foods Corp. The acquisition does not include the Barrio Fiesta chain of restaurants.

Splash claims that the acquisition of a “legacy” brand like Barrio Fiesta Manufacturing will help jumpstart its move into the food industry and possibly attract more interest from investors.

Established in 1987, Barrio Fiesta Manufacturing makes condiments used in Filipino cuisine such as sautéed shrimp paste, ready-to-eat canned meals, sauces such as white vinegar, fish sauce, soy sauce, lechon sauce as well as fruit preserves.

Splash shares added 2.88 percent to P2.14 each on Friday’s trading. The company is behind leading personal care products including Maxi-Peel skin whitening line, Kolours hair dye and Skin White lotion.

(Miguel R. Camus)