Manuel V. Pangilinan is set to expand his presence in the dairy industry with plans to acquire Bukidnon Milk Co. for approximately P700 million.
The move aims to bolster the supply chain for his premium ice cream brand, Carmen’s Best, due to increasing demand.
Pangilinan noted that the acquisition will help supplement he milk supply from his Laguna dairy farm and facilitate expansion into fresh milk, yogurt, and cheese products.
The deal, expected to close this July, underscores Pangilinan’s strategic push into food sufficiency, following his earlier acquisition of The Laguna Creamery in 2022.
Bukidnon Milk, known for its stress-free dairy farming practices in Mindanao, operates a large grazing farm and employs local indigenous communities, contributing to its ethical and sustainable approach in the dairy sector.
Source: PhilNews24 | July 11, 2024
