Metro Pacific Investments Corp. (MPIC) said it is acquiring Mindanao-based dairy farm Universal Harvester Dairy Farms Inc. (UHDFI).
UHDFI, located in Maramag, Bukidnon, operates under the Bukidnon Milk Company brand, producing fresh milk, flavored milk, yogurt and cheese products, with presence primarily focused on key cities in 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.
It is also a major supplier of product for the National Dairy Authority’s (NDA) Milk Feeding Program, primarily focused on ensuring that schoolchildren have regular access to high quality fresh milk.
MPIC represented its unit Metro Pacific Agro Ventures (MPAV) in the transaction worth over P700 million for a full ownership.
The acquisition is subject to various conditions that include regulatory consents and other customary closing conditions.
The How family, who founded UHDFI in 2015, will work with MPAV in ensuring a smooth transition of operations, the company said.
The acquisition comes after MPIC invested into The Laguna Creamery Inc. (TLCI) which is known for popular brands Carmen’s Best ice cream and Holly’s Milk.
“Since partnering with MPAV, TLCI has doubled its sales in just two years; by combining the resources of TLCI and UHDFI, MPAV aims to establish a national dairy champion with farms across the country, a nationwide reach, and a comprehensive range of products,” MPIC said in a statement.
“MPAV’s continued investment into the dairy industry supports an underserved segment of the economy. In March 2024, NDA reported that the country continues to import 98 percent of its milk demand. At current rates, the NDA envisions to reach a milk production target of just 5 percent of local demand by 2028,” it added.
Manuel Pangilinan, MPIC chairman, said the Mindanao acquisition complements MPAV’s dairy farms in Luzon.
“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. With our new investment in Bukidnon Milk Company, we anticipate replicating this success in Mindanao and other regions of the country,” Pangilinan said.
Juan Victor Hernandez, MPAV chief executive officer, said Bukidnon Milk Company is highly complementary to MPAV’s 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,” Hernandez said.
