Universal Robina

Last updated
Universal Robina Corporation
Type Public
PSE:  URC
Industry Manufacturing
Founded1954;67 years ago (1954)
Founder John Gokongwei Jr.
Headquarters6/F Tera Tower, Bridgetowne, E.Rodriguez, Jr., Avenue, Ugong Norte, Quezon City
Area served
China, Southeast Asia, Oceania [1]
Key people
  • Lance Y. Gokongwei
    (Chairman)
  • Irwin C. Lee
    (President and CEO) [2]
Products Confectionery, snack foods, grocery and convenience foods, beverages, animal feeds and other agriculture-based products
RevenueIncrease2.svg PHP₱ 134.2 billion (2020) [3] [4]
Increase2.svg PHP₱ 11.9 billion (2020) [3] [4]
Decrease2.svg PHP₱ 10.1 billion (2020) [3] [4]
AUM Increase2.svg PHP₱ 64.8 billion (2020) [3] [4]
Total assets Increase2.svg PHP₱ 168.7 billion (2020) [3] [4]
Total equity Increase2.svg PHP₱ 95.2 billion (2020) [3] [4]
Parent JG Summit Holdings
Subsidiaries Griffin's Foods (New Zealand)
Snack Brands Australia (Australia)
Website urc.com.ph
Former logo used until 2016. Universal Robina Logo.png
Former logo used until 2016.

Universal Robina Corporation (URC) is a Philippine company based in Quezon City, Philippines. It is one of the largest[ clarification needed ] food and beverage companies in the Philippines.

Contents

History

The precursor to Universal Robina Corporation (URC) was founded in 1954 by John Gokongwei, Jr. [5] Gokongwei decided to construct a corn milling plant to produce glucose and cornstarch, Universal Corn Products (UCP).

Later, to diversify by producing and marketing his own branded consumer foods, in 1961 Consolidated Food Corporation was established. Their first product was Blend 45, the first locally manufactured coffee blend, dubbed as the “Pinoy coffee”. This became the largest-selling coffee brand in the market, even beating market leaders Café Puro and Nescafé. After coffee, came Nips chocolate candies, a panned chocolate similar to M&M's, was a staple of Filipino childhood.

In 1963, Robina Farms began operations beginning with poultry products. This was also the beginning of the vertical integration of the Gokongwei businesses, as the farms would be able to purchase feeds from UCP in the future. Later that decade, Robichem Laboratories would be put up, to cater to the veterinary needs of the farms businesses. Robina Farms expanded as it entered the hogs business in the latter part of the 70s. [6]

1966 saw the establishment of Universal Robina Corporation, which pioneered the savory snacks industry in the Philippines with its Jack 'n Jill snacks - Potato Chips, Chiz Curls (puffed corn snack) and Chippy (corn chips). Other snack products would follow, like Jack 'n Jill Pretzels (pretzels), Piattos (fabricated potato chips), and Maxx (hard candy), followed by Magic Flakes, and different flavors Magic Creams cracker sandwich; lastly they added such confectionery item X.O. Butter Caramel Candy, and more.

In the early 1970s, the Gokongwei family entered the commodities business through the formation of Continental Milling Corporation, for flour milling and production. The late 1980s brought the acquisition of three sugar mills and refineries, under URC Sugar. These two businesses provided stable cash flows, and allowed for further vertical integration in the supply chain. In line with this strategy, the late 1990s saw the entry of URC into the plastics business, through URC Packaging.

In 2005, the present structure of the group was adopted, organized under Universal Robina Corporation, divided into three focused groups:

URC is a core subsidiary of JG Summit Holdings, Inc. (JGSHI) which is one of the largest business conglomerates listed in the Philippine Stock Exchange. [7]

In 2014, Universal Robina expanded to Oceania by acquiring New Zealand-based biscuit company, Griffin's Foods. This was followed by the acquisition of Snack Brands Australia in 2016. [8]

Presence

Universal Robina is based in Quezon City and as of 2018 has 19 production sites in the Philippines. It also has production sites in China, Myanmar, Thailand, Vietnam, Malaysia and Indonesia. The company also maintains an exclusive distributor presence in Laos and Cambodia, as well as sales offices in Hong Kong and Singapore. [8]

Sports

URC owned the Philippine Basketball Association franchise Great Taste Coffee Makers which played from the inaugural 1975 season to 1992 when the company sold the team to Sta. Lucia Realty. [9] The Coffee Makers won 6 PBA championships.

See also

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References

  1. "About Us".
  2. Dumlao-Abadilla, Doris (26 April 2018). "URC names Lee new CEO". Philippine Daily Inquirer. Retrieved 5 June 2018.
  3. 1 2 3 4 5 6 "Universal Robina Corporation".
  4. 1 2 3 4 5 6 "Wall Street Journal".
  5. "URC.PH | Universal Robina Corp. Company Profile & Executives - WSJ". www.wsj.com. Retrieved 2020-09-28.
  6. "Universal Robina Corp". Nikkei Asian Review. Retrieved 2019-01-28.
  7. "Company Information". PSE Electronic Disclosure Generation Technology. The Philippine Stock Exchange. Retrieved 29 September 2019.
  8. 1 2 Dumlao-Abadilla, Doris (3 December 2018). "Globalizing corporate Philippines". Philippine Daily Inquirer. Retrieved 29 September 2019.
  9. "PBA honors founding team owner John Gokongwei with a moment of silence". Spin.ph. Retrieved 2020-09-28.