San Miguel Food and Beverage

Last updated

San Miguel Food and Beverage, Inc.
San Miguel Foods
Formerly
  • Pure Foods Corporation (1956–2001)
  • San Miguel Pure Foods Company, Inc. (2001–2018)
Company type
PSE:  FB
Industry
FoundedOctober 31, 1956;67 years ago (1956-10-31)
Founders
  • Joseph Henry Ng
  • Manuel Fong
  • Ismael Mathay Jr.
  • Lee Ngan
  • Pablo Cutaoco
  • Gregorio Tung
  • Miguel Ortigas
Headquarters100 E. Rodriguez Jr. Avenue, Barangay Ugong,
Pasig, Metro Manila
,
Philippines
Area served
Worldwide
Key people
  • Eduardo M. Cojuangco Jr. (Chairman) (2001–2020)
  • Ramon S. Ang (Vice Chairman, President and CEO)
  • Francisco S. Alejo III (COO for Food)
  • Roberto N. Huang (COO for Beer)
  • Emmanuel B. Macalalag (COO for Spirits)
ProductsProcessed meat, processed fish, canned meat, canned fish, coffee, dairy products, flours, baking mixes, beverages and agricultural-based products
Number of employees
10,460 (2022)
Parent
Subsidiaries
Website www.smfb.com.ph

San Miguel Food and Beverage, Inc., doing business as San Miguel Foods (formerly Pure Foods Corporation and San Miguel Pure Foods Company, Inc.), is a Philippine food and beverage company headquartered in Pasig, Metro Manila. It is the largest food and beverage company in the Philippines, with nearly 3,000 employees deployed in a nationwide network of offices, farms, manufacturing, processing and distribution facilities. The company is a subsidiary of San Miguel Corporation (SMC).

Contents

History

The company was incorporated on October 31, 1956 as Pure Foods Corporation, a manufacturer of processed meats marketed under the Purefoods brand name. Its incorporators were Joseph Henry Ng, Manuel Fong, Ismael Mathay Jr., Lee Ngan, Pablo Cutaoco, Gregorio Tung and Miguel Ortigas. [1] Ayala Corporation acquired substantial shares in the company in 1965 and majority control in 1981. [2]

In 2001, San Miguel Corporation (SMC) acquired Pure Foods Corporation from Ayala Corporation. [3] Following the acquisition, the entire food division of SMC was consolidated under Pure Foods Corporation and the company was renamed San Miguel Pure Foods Company, Inc. Its integrated operations range from breeding, contract growing, processing, and marketing of chicken, pork and beef to the manufacture of refrigerated, canned and ready-to-cook meat products, ice cream, butter, cheese, margarine, oils and fats, as well as animal and aquatic feeds. It holds in its portfolio some of the most formidable brands in the Philippine food industry. Sixty per cent of its sales comes from poultry, feeds and meats; branded businesses, processed meats, coffee and dairy; and flour. As at July 16, 2013, San Miguel Pure Foods had a market share of over 40%, and is the Philippines' leading poultry producer. [4]

On November 6, 2017, SMC announced the consolidation of its beverage businesses into San Miguel Pure Foods Company, Inc. through a $6.6-billion share swap deal. San Miguel Pure Foods Company, Inc. would acquire 7.86 billion shares in San Miguel Brewery, Inc. and 216.97 million shares in Ginebra San Miguel, Inc. from SMC. After the consolidation, San Miguel Pure Foods Company, Inc. would be renamed San Miguel Food and Beverage, Inc. [5] [6] San Miguel Pure Foods Company, Inc. held a special stockholder meeting on January 18, 2018, which approved the amendments to the Articles of Incorporation and the share swap transaction. After the consolidation, SMC intended to sell up to 30% of the company to foreign investors to raise roughly $3 billion for future investments. The sale would be done through a private placement in 2018. [7] [8]

On March 23, 2018, the Philippines' Security and Exchange Commission (SEC) approved the change in corporate name and amendments in the company's Articles of Incorporation. [9] The company's PSE ticker symbol was changed to PSE :  FB effective April 5, 2018. [10]

Former logo as San Miguel Pure Foods from 2001 to 2018. San Miguel Pure Foods Company logo.jpg
Former logo as San Miguel Pure Foods from 2001 to 2018.

Subsidiaries

Sports team

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References

  1. ↑ "A Commitment to Product Excellence". Management Guide: Business Lessons from Philippine Companies. Mahal Kong Pilipinas, Inc. 1987. p. 105. Retrieved April 23, 2023.
  2. ↑ Batalla, Eric Vincent (June 1, 1999). "Zaibatsu Development in the Philippines: The Ayala Model" (PDF). Southeast Asian Studies. 37 (1): 32. Retrieved February 26, 2019.
  3. ↑ Layug, Amabelle (May 8, 2001). "San Miguel to acquire Ayala food unit". CNN.com. Retrieved December 6, 2017.
  4. ↑ Calderon, Justin (July 16, 2013). "Philippines: Poultry with prospects". Inside Investor. Retrieved July 18, 2013.
  5. ↑ Morales, Neil Jerome (November 7, 2017). "San Miguel to consolidate food, beverage units in sale swap". Reuters. Retrieved November 7, 2017.
  6. ↑ dela Paz, Chrisee (November 6, 2017). "San Miguel to merge food, beverage businesses". Rappler. Retrieved November 7, 2017.
  7. ↑ Gonzales, Iris (November 23, 2017). "SMC to sell 30% of food, beverages business". Philstar. Retrieved December 6, 2017.
  8. ↑ Gonzales, Iris (January 19, 2018). "San Miguel moves closer to merging food, beverage units under Pure Foods". Philstar. Retrieved January 19, 2018.
  9. ↑ "Disclosure letter to SEC" (PDF). San Miguel Corporation. March 27, 2018. Retrieved April 6, 2018.
  10. ↑ "Change in corporate name and/or stock symbol". PSE (Philippine Stock Exchange) EDGE (Electronic Disclosure Generation Technology). March 28, 2018. Retrieved April 6, 2018.
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