MVP Milks Success With New Acquisition

Metro Pacific Agro Ventures (MPAV), a subsidiary of the leading infrastructure firm Metro Pacific Investments Corporation (MPIC), has made a significant move in the Philippine dairy industry by acquiring 100% of Universal Harvester Dairy Farms, Inc. (UHDFI).

The acquisition was formalized in a signing ceremony attended by key executives including Jovy I. Hernandez, President and CEO of MPAV, Manuel V. Pangilinan, Chairman, President, and CEO of MPIC, Dr. Milagros O. How, EVP and Treasurer of UHDFI, and William Y. How, Chairman, President, and CEO of UHDFI. | Photo: MPIC

The acquisition was formalized in a signing ceremony attended by key executives including Jovy I. Hernandez, President and CEO of MPAV, Manuel V. Pangilinan, Chairman, President, and CEO of MPIC, Dr. Milagros O. How, EVP and Treasurer of UHDFI, and William Y. How, Chairman, President, and CEO of UHDFI.

UHDFI, operating under the Bukidnon Milk Company brand, is a major player in the dairy sector, producing fresh milk, flavored milk, yogurt, and cheese products, primarily serving key cities in Visayas and Mindanao.

The company is renowned for its state-of-the-art dairy production facility in Maramag, Bukidnon, and plays a crucial role in the National Dairy Authority’s (NDA) Milk Feeding Program, which ensures that schoolchildren have regular access to high-quality fresh milk.

The acquisition, valued at over P700 million, marks MPAV's continued commitment to strengthening the local dairy industry.

This move follows MPAV's successful investment in The Laguna Creamery Inc. (TLCI), 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 and a comprehensive range of products.

"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," said Manuel V. Pangilinan, MPIC Chairman, President and CEO, and MPAV Chairman.

"With our new investment in Bukidnon Milk Company, we anticipate replicating this success in Mindanao and other regions of the country."

MPAV President and CEO Juan Victor I. Hernandez highlighted the strategic significance of this acquisition, stating, "Bukidnon Milk Company is highly complementary to our existing dairy business. This investment not only enables us to achieve nationwide distribution but also brings us closer to our aspiration of becoming a Dairy Masterbrand, providing the Filipino consumer with a full range of 100% fresh and local dairy products."

The completion of this acquisition is subject to regulatory consent and other customary closing conditions. In the interim, the How Family, who founded UHDFI in 2015, will work with MPAV to ensure a smooth transition of operations.

Dr. Milagros Ong-How, Founder of UHDFI, expressed confidence in the partnership, saying, "UHDFI is a testament to Filipino ingenuity, perseverance, and the power of agriculture to transform lives. We believe that MPAV is the right partner to take our vision to the next level, expanding our reach and enhancing the quality and range of dairy products available to Filipino consumers."

MPAV’s investment strategy extends beyond dairy production.

The company plans to promote the dairy ecosystem with corn plantations and silage production across the country, leveraging developments such as Metro Pacific Dairy Farms, Axelum Resources Corp., and Metro Pacific Fresh Farms.

Metro Pacific Investments Corporation continues to be a pivotal force in the Philippines, investing in sectors that contribute to national progress and improve the quality of life for millions of Filipinos.

This latest acquisition reinforces MPAV’s mission to support the underserved dairy segment and achieve nationwide food security.