MANILA, Philippines – Listed agribusiness firm Calata Corp. is planning to expand its meat business through supply agreements with Puregold supermarkets.
Calata Corp. said on Tuesday that it has finalized its acquisition of Brookfields Meat Inc., the meat business of the Galicia Group, which is a major supplier for Puregold.
“The company intends to aggressively pursue its meat business by rapidly expanding operations which shall include the establishment of major supply agreements with large scale supermarkets including supply agreements with the country’s largest retail chain Puregold supermarkets which has more than 200 retail stores all over the country,” Calata Corp. said in a disclosure to the stock exchange.
The company added that operations from the meat business “are expected to substantially contribute to the continued increase in corporate profitability.”
Calata Corp. acquired 51 percent of Brookfields Meat Inc. effective June 16.
The firm said it is planning to integrate the meat business into its existing feeds distribution business and hog breeding and growing.
Calata Corp. has also partnered with New Hope Group, one of the largest feed manufacturer in China, to manufacture and distribute Golden Bean growing feeds.
The agribusiness company said it is aiming to distribute pork meat fed with Golden Bean feeds across the Philippines.