San Miguel set to buy dairy in Malaysia
The Malaysian investment comes as part of the company’s regional expansion strategy to boost its business and product portfolio across the Asia-Pacific region.
10/02/05 Philippines-based food and beverage giant San Miguel Corp - currently outbidding Fonterra for control of Australian dairy leader National Foods - says it will also buy a big dairy company in Malaysia.
San Miguel has said the Malaysian investment was part of its regional expansion strategy to boost its business and product portfolio across the Asia-Pacific region, Malaysia's Kuala Lumpur-based Star newspaper reports.
It has signed to buy a 76.38 per cent share of Singapore-registered ice cream manufacturer King's Creameries, which operates in Malaysia, but has not disclosed a value for the transaction.
In Malaysia, San Miguel said that with manufacturing operations in Shah Alam and Kuching, distribution in both Malaysia and Singapore, as well as exports to neighbouring countries, King's Creameries was among the top four ice cream players in Malaysia and Singapore.
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