From ice cream to eggs: MVP-led MPIC wants to reinvent Filipino ‘plate’
After seeing success in the dairy industry, the agriculture unit of Manuel Pangilinan-led Metro Pacific Investments Corp. (MPIC) is looking into entering the protein segment to complete its foray into the “Filipino plate.”
Metro Pacific Agro Ventures Inc. (MPAV) president and CEO Juan Victor Hernandez told reporters last week they were looking next into eggs and aquaculture, although concrete plans have yet to be disclosed.
“We want to enter the protein segment because part of our core strategy is to look at the Filipino plate,” Hernandez said during a press briefing. “We already have fresh dairy and salad for the greens. We want to take a look at protein.”
While MPAV is also considering meat such as chicken and pork, the CEO explained they were still cautious of African swine fever and avian flu, which the country is currently battling.
This venture is seen to support MPIC’s other agricultural investments, including Metro Pacific Fresh Farms, a planned 22-hectare property slated to produce annually 1,600 metric tons of vegetables, such as lettuce, tomatoes, sweet peppers and eggplants, among others.
According to Hernandez, the P1-billion greenhouse in San Rafael, Bulacan, is scheduled for completion within the year.
On the dairy side, MPAV recently acquired Universal Harvester Dairy Farms Inc. (UHFDI) in a deal that would value the latter at P700 million.
UHFDI currently operates in Bukidnon province under Bukidnon Milk Company, which produces fresh and flavored milk and yogurt and cheese products.
“They’re very complementary to our existing dairy business in Laguna. They don’t have an ice cream business but we do, so that automatically gives us the opportunity to produce ice cream in Mindanao and distribute in the Visayas and Mindanao,” Hernandez explained.
‘Dairy self-sufficient’
In 2022, MPAV acquired a controlling stake in the Magsaysay family’s ice cream maker, The Laguna Creamery Inc., also known as the popular Carmen’s Best brand, for nearly P200 million.
Hernandez noted they already have 140 milking cows in Laguna, thus drawing closer to MPAV’s goal of having 200 by the end of the year to double dairy production.
UHFDI also has the potential to add at least 200 milking cows to MPAV’s portfolio, he said.
By next year, the company will open what is touted to be the largest dairy facility in the country through its partnership with Israel’s LR Group.
This will likewise pave the way for MPAV becoming “dairy self-sufficient” by 2026, Hernandez added.
MPAV first announced this expansion into the dairy segment in 2022, saying that the P2-billion venture with LR Group would help “modernize” the dairy industry.
