Dec
2
Calata buys into meat supplier
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Calata buys into meat supplier
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Category: Companies
Written by VG Cabuag
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LISTED agribusiness firm Calata Corp. on Monday said it had acquired a controlling stake in the meat business of the Galicia Group, a company that supplies pork, beef and chicken meat to SM Supermarket and other supermarket chains.
Calata said in its disclosure to the Philippine Stock Exchange that the deal includes all the existing facilities of the Galicia, which supplies SM supermarket its meat requirements under the SM Bonus brand for the last 10 years. Galicia also supplies other grocery chains such as Puregold Price Club Inc.
“The [Galicia] Group has, likewise, been in the meat fabrication industry for more than three decades and continues to be a key supplier of meat products of large retail outlets in the Philippines,” Calata said in its disclosure but did not give other details such as the amount of its acquisition.
“This acquisition, along with the company’s existing animal farming and animal-feeds business, is a major component of the company’s completion of its “farm-to-plate” business model with its existing, solidifying its position as an integrated and leading agribusiness player in the Philippines,” it said.
The company has been aggressively making deals since the start of the year.
Calata in October said it has partnered with Chinese firm New Hope Group to “aggressively pursue” agribusiness opportunities in the country in a move to increase its revenues. It did not reveal details on how it would carry the business venture in the country.
“By virtue of its ever-aggressive business initiatives, in the coming year the company envisions that it shall likewise be the leader in the agribusiness sector in the Philippines,” Calata said.
NHG claims as China’s leader in agribusiness, with annual sales of around $8.8 billion. The Chinese firm is one of the largest feed producers in China with annual production capacity of 26.6 million tons.
It is also one of the largest suppliers of meat, egg and dairy product in China providing more than 200 million poultry, and half million tons of milk each year.
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