Jun
17
Calata to supply Puregold with fresh meat products
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MANILA – Calata Corp will soon supply the meat products requirements of Puregold supermarkets.
In a disclosure to the Philippine Stock Exchange today, Calata said it has completed the acquisition of the Galicia Group’s meat business through a majority stake in Brookfields Meat Inc. The listed farm feeds distributor said it now owns 51 percent of Brookfields, which will take over the meat business of the Galicia Group.
Following its acquisition of the Galicia Group’s meat business, Calata said it will “aggressively pursue its meat business by rapidly expanding operations, which shall include the establishment of major supply agreements with large scale supermarkets, including supply agreements with the country’s largest retail chain Puregold Supermarket, which has more than 200 retail stores all over the country.”
Calata said its acquisition of the Galicia Group’s meat business is in line with its “farm-to-plate” business model.
“Operations from the meat business are expected to substantially contribute to the continued increase in corporate profitability as the company is geared towards becoming a major player in this billion of pesos worth of meat business industry for the coming years,” Calata said.
Calata first announced its acquisition of the Galicia Group’s meat business in December last year. The Galicia Group supplies the meat products requirements of SM Supermarkets under the SM Bonus brand.
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