Metro Pacific Agro Ventures (MPAV), a wholly-owned subsidiary of Metro Pacific Investments Corp. (MPIC), said Thursday it signed agreements to acquire 100 percent of Universal Harvester Dairy Farms Inc. (UHDFI) for over P700 million.
UHDFI, based in Maramag, Bukidnon, owns the Bukidnon Milk Company brand and produces fresh milk, flavored milk, yogurt and cheese products, with presence primarily focused on key cities in the Visayas and Mindanao.
UHDFI is the largest state-of-the-art dairy production facility in the country, the showcase model for community, private sector and government partnership and also a major supplier for the National Dairy Authority’s (NDA) milk feeding program, primarily focused on ensuring schoolchildren have regular access to high quality fresh milk.
“Establishing this strategic beachhead in Mindanao complements our dairy farms in Luzon, bringing us closer to our mission of achieving nationwide food security. Our operations in Laguna have not only improved the accessibility of fresh dairy but also fostered an ecosystem of milk farmers who supply to us, creating a virtuous cycle of increased domestic milk production,” said MPIC chairman, president and chief executive and MPAV chairman Manuel Pangilinan.
“With our new investment in Bukidnon Milk Company, we anticipate replicating this success in Mindanao and other regions of the country,” said Pangilinan.
MPAV’s acquisition comes after its previous investment in The Laguna Creamery Inc. (TLCI), known for popular brands Carmen’s Best ice cream and Holly’s Milk.
TLCI doubled its sales in just two years since partnering with MPAV.
MPAV said that by combining the resources of TLCI and UHDFI, it aims to establish a national dairy champion with farms across the country, a nationwide reach and a comprehensive range of products.
MPAV said its continued investment into the dairy industry supports an underserved segment of the economy.
The NDA reported in March 2024 that the country continues to import 98 percent of its milk demand. It targets to reach a milk production of just 5 percent of local demand by 2028.
“Bukidnon Milk Company is highly complementary to our existing dairy business. This investment not only enables us to achieve nationwide distribution but, more importantly, this is a significant step for us to achieve our aspiration of becoming a Dairy Masterbrand – where we will be providing the Filipino consumer the full range of dairy products from ice cream, milk, yogurt, cheese, butter and other milk derivative products that is 100 percent fresh and 100 percent local,” said MPAV president and chief executive Juan Victor Hernandez.
The completion of the acquisition is subject to various conditions, which include regulatory consents and other customary closing conditions.
The How Family, founders of UHDFI in 2015, will work with MPAV in ensuring a smooth transition of operations.
“We are proud of what we’ve built with Bukidnon Milk Company. Since breaking ground in 2015, we have created thousands of jobs and raised the economic benefit in our value chain. We have narrowed the technology gap with our Asian and Western counterparts, pushing the boundaries of dairy innovation in the Philippines,” said Dr. Milagros Ong-How, founder of UHDFI and representative of the How Family.
“UHDFI is a testament to Filipino ingenuity, perseverance, and the power of agriculture to transform lives. We believe that MPAV is the right partner to take our vision to the next level. This partnership will not only expand our reach but also enhance the quality and range of dairy products available to Filipino consumers. We look forward to contributing to the continued growth and success of the dairy industry in the Philippines,” said How.
