MANILA -- The supplier of chicken to Jollibee sees "dramatic growth" in the next 2 years, its parent company said, as it announced an additional P12.5 billion investment in the Philippines.
Cargill, which has been operating in the country for 70 years, will divide the investment to its feed and copra business and Cargill Joy Poultry Meats Production (C-Joy), its joint venture with Jollibee Foods Corp.
Cargill and C-Joy in December 2017 inaugurated their chicken processing plant in Sto. Tomas, Batangas.
It has an annual 45 million chicken processing capacity and increasing that is “certainly one of the things they can do” with the investment, its CEO David MacLennan said in an exclusive interview with ANC’s The Boss.
“That’s one area we intend to invest, it’s a combination of perhaps increasing capacity or more value added products in the processing in addition to what’s were already doing,” MacLennan said.
Cargill is proud of its partnership with Jollibee and the 1-year old venture is also “doing really well,” he said.
“You can’t drive anywhere without a Jollibee sign and it makes me very proud when I drive through Manila and see Jollibee and know that they’re our partner. It is delicious, I'll eat it every day if I could,” MacLennan said.
The current 2-year investment is almost equivalent to the total investment made in Philippines in the last 70 years, making the potential growth “more dramatic," he said.
Cargill is currently at its “biggest” in terms of the number of employees and investments in the country, MacLennan said.