Report: Aboitiz looking to sell stake in Philippines feed business
Aboitiz is potentially looking to divest around 20% to 30% of the company, according to the article.
Deliberations are ongoing and the companies could decide against a deal, the sources added.
Pilmico is a strong player in animal feeds, and in swine production, having established those businesses in the late 1990s. It claims to be one of the largest feed players in South East Asia with an annual capacity of 4.2m MT. It is also involved in layer production.
Pilmico first expanded internationally by acquiring Vinh Hoan Feeds, an aqua feeds producer based in Vietnam, in 2014.
In its strategic objective to build capacities and capabilities in order to sustain profitability and grow its businesses both in the Philippines and in the ASEAN region, Pilmico also acquired a 70% stake in Vietnamese animal feed company, Eurofeed, back in 2017. It paid out US$3.7m for the controlling interest in that group, which is located in Binh Duong, South Vietnam.
May 2019 saw AEV take full ownership of Gold Coin Management Holdings Ltd., one of Asia’s largest privately-owned agribusiness corporations, with the acquisition of an additional 25% stake in the Singaporean company for US$120m, following its purchase of a 75% stake in that feed player for US$334m in July 2018.
Gold Coin operates 20 production facilities, employing over 3,000 people across 11 countries. It produces a range of products for both the livestock and the aqua industries, including young animals and hatchery feed, premixes, concentrates and compound feed.