Pilmico, Gold Coin rebrand as Aboitiz Foods
PILMICO Foods Corp. (Pilmico) and Gold Coin Management Holdings, Ltd. (Gold Coin), the agribusiness and food subsidiaries of the Aboitiz Group, announced that they have merged under the new brand, Aboitiz Foods.
“This strategic move leverages the combined strengths of these industry leaders to create an integrated agribusiness and food ecosystem dedicated to nourishing Asia’s future across the entire value chain,” Aboitiz Foods said in a media release on Wednesday.
The company added that this move would integrate the company’s value chains throughout the Asian region and optimize its processes.
“We are committed to optimizing all our processes and businesses, constantly improving as we integrate the value chain across Asia for a more sustainable and food-secure future,” Aboitiz Foods President and Chief Executive Officer Tristan S. Aboitiz said.
Pilmico is a local manufacturer of flour, animal feeds, and meat products, while Gold Coin also produces animal feeds outside of the Philippines.
The Aboitiz Group initially purchased 75% of Gold Coin in 2018 for $334 million and acquired the remaining stake last year.
The company added that the transition would be seamless, with existing operations remaining uninterrupted and benefiting from “enhanced efficiency and product quality.”
“Combining the resources and expertise of Pilmico and Gold Coin, Aboitiz Foods ensures a consistent and dependable supply of high-quality agricultural and nutritional products tailored to each customer’s unique needs,” the company said.
The company now has 29 facilities across eight countries: the Philippines, China, Vietnam, Malaysia, Indonesia, Singapore, Thailand, and Brunei.
“With combined expertise in trading, feed, specialty nutrition, and food production, Aboitiz Foods is strategically positioned to become a dominant force in the region,” it added. — Adrian H. Halili