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San Miguel Food and Beverage, Inc. (formerly San Miguel Pure Foods Company, Inc.) (PSEFB) is the largest food and beverage company in the Philippines, with nearly 3,000 employees deployed in a nationwide network of offices, farms, manufacturing, processing and distribution facilities. It is the food and beverage subsidiary of San Miguel Corporation (SMC).

San Miguel Food and Beverage, Inc.
Formerly
San Miguel Pure Foods Company, Inc.
Subsidiary, Public
Traded asPSEFB
IndustryFood processing, beverages
PredecessorPure Foods Corporation (1956-2001)
San Miguel Pure Foods Company, Inc. (2001-2018)
Founded1956; 63 years ago (1956)
HeadquartersPasig City, Philippines
Area served
Philippines
Key people
ParentSan Miguel Corporation
SubsidiariesThe Purefoods-Hormel Company Inc.
Magnolia Inc.
San Miguel Foods Inc.
San Miguel Super Coffeemix Company Inc.
San Miguel Mills Inc.
San Miguel Pure Foods International Ltd.
P.T. San Miguel Pure Foods Indonesia
San Miguel Brewery Inc.
Ginebra San Miguel Inc.
Websitewww.smfb.com.ph

Contents

HistoryEdit

The company was incorporated in 1956 as Pure Foods Corporation, a manufacturer of processed meats marketed under the Purefoods brand name. Ayala Corporation acquired substantial shares in the company in 1965 and majority control in 1981.[1]

In 2001, San Miguel Corporation (SMC) acquired Pure Foods Corporation from Ayala Corporation.[2] Following the acquisition, the entire food division of SMC was consolidated under Pure Foods Corporation and the company was renamed San Miguel Pure Foods Company, Inc. Its integrated operations range from breeding, contract growing, processing and marketing of chicken, pork and beef to the manufacture of refrigerated, canned and ready-to-cook meat products, ice cream, butter, cheese, margarine, oils and fats, as well as animal and aquatic feeds. It holds in its portfolio some of the most formidable brands in the Philippine food industry. Sixty per cent of its sales comes from poultry, feeds and meats; branded businesses, processed meats, coffee and dairy; and flour. As of 16 July 2013, San Miguel Pure Foods has a market share of over 40 per cent, and is the Philippines' leading poultry producer.[3]

On November 6, 2017, SMC announced the consolidation of its beverage businesses into San Miguel Pure Foods Company, Inc. through a $6.6-billion share swap deal. San Miguel Pure Foods Company, Inc. would acquire 7.86 billion shares in San Miguel Brewery, Inc. and 216.97 million shares in Ginebra San Miguel, Inc. from SMC. After the consolidation, San Miguel Pure Foods Company, Inc. would be renamed San Miguel Food and Beverage, Inc.[4][5] San Miguel Pure Foods Company, Inc. held a special stockholders meeting on January 18, 2018 which approved the amendments to the Articles of Incorporation and the share swap transaction. After the consolidation, SMC intends to sell up to 30 percent of the company to foreign investors to raise roughly $3 billion for future investments. The sale would be done through a private placement in 2018.[6][7]

On March 23, 2018, the SEC approved the change in corporate name and amendments in the company's Articles of Incorporation.[8] The company's PSE ticker symbol was changed to PSEFB effective April 5, 2018.[9]

 
Former logo as San Miguel Pure Foods from 2001 to 2018.

SubsidiariesEdit

  • The Purefoods-Hormel Company Inc. (joint venture with Hormel)
  • Magnolia, Inc.
    • Sugarland Corporation
    • Golden Food and Dairy Creamery Corporation
  • Realsnacks Manufacturing Corporation
  • San Miguel Foods Inc.
  • San Miguel Mills Inc.
    • Golden Bay Grain Terminal Corporation
    • Golden Avenue Corporation
  • San Miguel Super Coffeemix Company Inc.
  • San Miguel Pure Foods International Ltd.
    • San Miguel Pure Foods Investment (BVI), Ltd.
      • San Miguel Hormel Vietnam Company Ltd.
  • P.T. San Miguel Pure Foods Indonesia
  • San Miguel Brewery Inc.
  • Ginebra San Miguel Inc. (PSEGSMI)

Sports teamEdit

ReferencesEdit

  1. ^ Batalla, Eric Vincent (June 1, 1999). "Zaibatsu Development in the Philippines: The Ayala Model" (PDF). Southeast Asian Studies. 37 (1): 32. Retrieved February 26, 2019.
  2. ^ Layug, Amabelle (8 May 2001). "San Miguel to acquire Ayala food unit". CNN.com. Retrieved 6 December 2017.
  3. ^ Calderon, Justin (16 July 2013). "Philippines: Poultry with prospects". Inside Investor. Retrieved 18 July 2013.
  4. ^ Morales, Neil Jerome (7 November 2017). "San Miguel to consolidate food, beverage units in sale swap". Reuters. Retrieved 7 November 2017.
  5. ^ dela Paz, Chrisee (6 November 2017). "San Miguel to merge food, beverage businesses". Rappler. Retrieved 7 November 2017.
  6. ^ Gonzales, Iris (23 November 2017). "SMC to sell 30% of food, beverages business". Philstar. Retrieved 6 December 2017.
  7. ^ Gonzales, Iris (19 January 2018). "San Miguel moves closer to merging food, beverage units under Pure Foods". Philstar. Retrieved 19 January 2018.
  8. ^ "Disclosure letter to SEC" (PDF). San Miguel Corporation. 27 March 2018. Retrieved 6 April 2018.
  9. ^ "Change in corporate name and/or stock symbol". PSE (Philippine Stock Exchange) EDGE (Electronic Disclosure Generation Technology). 28 March 2018. Retrieved 6 April 2018.

External linksEdit