TODAY'S BUSINESS HEADLINES

Last-minute profit taking pulls down PH stock index 22-Sep-14, 5:03 PM | Krista Angela M. Montealegre, InterAksyon.com

DoubleDragon expands footprint to Aklan 22-Sep-14, 4:29 PM | Krista Angela M. Montealegre, InterAksyon.com

Air talks with Ethiopia, Hong Kong scheduled next month 22-Sep-14, 4:47 PM | Darwin G. Amojelar, InterAksyon.com

Foreign debt remains manageable in 2Q, says BSP 22-Sep-14, 3:49 PM | InterAksyon.com

Philippines narrows forex deficit at end-August 22-Sep-14, 3:29 PM | InterAksyon.com

Asia Brewery-Grupo Leche Pascual tie-up aims to double Philippine yogurt market

Creamy Delight, a Spanish yoghurt brand, will be produced in the Philippines by Spain's Grupo Leche Pascual and Asia Brewery Inc. (Ben de Vera, InterAksyon.com)

InterAksyon.com means BUSINESS

MANILA – The joint venture between Asia Brewery Inc and Spain’s Grupo Leche Pascual is eyeing to double the Philippine yogurt market as it makes available the Spanish brand Creamy Delight at about half the price of the competition.

AB Pascual Foods also plans to put up a yogurt manufacturing facility in the Philippines in 2-3 years so it can serve the entire Southeast Asia, company executives told a press conference on Monday night.

Grupo Leche Pascual president Tomas Pascual said 2.6 million kilograms or 1 million cases of Creamy Delight Pasteurized Yogurt will be imported from its factory in Spain during the initial year.

Asia Brewery chief operating officer Michael G. Tan said this volume is equal to the current demand for yogurt in the country.

“We feel there’s a big dairy deficiency in the Filipino diet,” Tan said, adding that only ¼ cup of yogurt is consumed by a Filipino each year.

Pascual said the entry of Creamy Delight at 40-50 percent cheaper than existing brands will double the country’s yogurt demand.

Besides groceries, supermarkets and convenience stores, Creamy Delight can be bought from sari-sari or neighborhood convenience stores to make it accessible to more buyers nationwide, Tan said.

The manufacture of Creamy Delight uses state-of-the-art pasteurization technology so it has a seven-month shelf life even without refrigeration, executives said.

They said it is healthy and nutritious as fresh cow’s milk and uses real fruits as ingredients. It has four variants: Flavours (Strawberry and Fruit Salad), which will retail for P15; Yogi Kids (Strawberry and Strawberry Banana), P19; Non-Fat (Strawberry), P20; and Thick & Creamy (Strawberry),P20.

AB Pascual Foods will initially focus on importing yogurt and growing the market, Tan said.

Sales have to spike up to 10 million kilograms in two years to make domestic manufacturing operations viable by the third year, Pascual said.

Tan said the company plans to build a P800-million yogurt production plant, most probably near Asia Brewery’s bottling facility in Cabuyao, Laguna.

 

OTHER BUSINESS STORIES
BREAKING NEWS