Reuters Insider - Why Beer Is Next on Philippines' Shopping List

Del Monte Pacific

01/02/2016 11:35

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 https://insider.thomsonreuters.com/link.html?cn=share&cid=1559274&shareToken=MzpkM2M4ZjQ1YS0zODYyLTRkOGUtYWM5NC1kNDFiNWQ4ZGYzMjk%3D&playerName=ReutersNews 
                                                                       
 Source:             Thomson Reuters                                   
                                                                       
 Description:        Companies in the Philippines have been snapping up 
                     foreign businesses over the past two years, making 
                     the country—which had no track record of overseas 
                     takeovers—an overnight star on the global         
                     corporate scene. Photo: Reuters                   
 
 
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Transcript (May be auto-generated)

                 You might know this brand of pineapple or scotch, but few people know that they 
are now owned by Filipino companies. Now, these beer brands may also be bought 
by San Miguel, the largest company in the Philippines by sales. The spree of 
recent foreign acquisitions has put Filipino companies into the global 
spotlight. Many are in the food and beverage sectors where companies have become
profitable at home and are looking to expand their markets overseas. In 2014, 
Philippine-owned Del Monte Pacific acquired Del Monte Foods based in California 
for $1.7 billion. The Filipino company says it wants to increase its presence in
the US. Emperador, the beverage unit of Philippine conglomerate Alliance Global 
Group, bought British spirits company Whyte & Mckay for about $730 million. 
Alliance Global Group also operates restaurants, hotels, and drinks businesses. 
That same year, Universal Robina Corp. acquired New Zealand's Griffin Foods 
known for its biscuits and other snacks for $609 million. Universal Robina is a 
part of JG Summit Holdings, the Philippines' third largest conglomerate by 
sales. It wants to sell Griffin's premium snack products to Southeast Asia's 
increasingly affluent consumers. Last year, snack food company Monde Nissin 
bought UK's Quorn Foods which specializes in meat substitute products for $831 
million. Because they expand their horizons, Filipino companies also face tough 
competition. If San Miguel ends up acquiring Anheuser-Busch's Grolsch and Peroni
brands, strength deal could fetch $3 billion and would be the biggest foreign 
acquisition by a Filipino company. But Japan's Asahi Bear and Thailand's Thai 
Beverage are also interested