Asia Brewery goes into yoghurt and soy milk
MANILA, Philippines – The LT Group, the investment holding firm of tycoon Lucio Tan, said it is looking to expand its food and beverage network into soy milk and pasteurized yoghurt.
LT Group head Michael Tan said at the company’s annual stockholders meeting on Wednesday, June 19, that they are looking to increase their market share by introducing new lines of soy milk and pasteurized yoghurt.
In December 2012, Asia Brewery Inc (ABI), a subsidiary of the LT Group announced its partnership with one of Spain’s biggest dairy company, Gulpo leche Pascual, to import pasteurized yoghurt and soy milk to meet the rising demand of dairy and soy products.
Grupo Leche Pascual president Tomas Pascual said at the launch that 2.6 million kilograms or 1 million cases of Creamy Delight Pasteurized Yogurt will be imported from its factory in Spain throughout 2013.
The next step, according to Tan, is to establish a manufacturing facility in the Philippines which will manufacture enough product to be exported.
“We’re importing it right now so once it gets to critical volume we will begin to manufacture. Gulpo Leche Pascual, has identified the Philippines as the manufacturing base they would like to have in South East Asia,” said Tan.
This comes as part of ABI’s new strategy to increase domestic market share, tap into new overseas markets and launch new products.
ABI, which manufactures and distributes alcoholic brands such as Beer na Beer, Colt 45, Tanduay Ice, Coors Light and Manila Beer, controls 9% of the local beer market. It’s non-alcoholic beverages include Cobra energy drink, Absolute mineral water, Virgin Cola and Vitamilk. - Rappler.com