San Miguel hikes bid for National Foods

Source: WikipediaSan Miguel hikes bid for National Foods

San Miguel Corporation, the Philippines largest food and beverage corporation and one of South East Asia’s largest food and beverage firms has increased its offer for Australian National Foods AUD 6.40 against New Zealand Fonterra’s AUD 6.20.

National Foods is an Australian dairy group.

Who is San Miguel?

San Miguel (Saint Michael in English) Corporation traces its routes in Hispanic Philippines and is known for its San Miguel beer which enjoys a monopoly in the Philippine beer market. It has diversified into related industries such as food processing and is the Philippine licensee of Coca-Cola. It has also invested in packaging and property.

San Miguel is on a buying spree. It has been buying companies all over the Asia Pacific region. It has recently acquired Berri Ltd, one of Australia’s largest juice companies. I has bought an Australian brewer, J. Boag & Sons and a Thai brewery.

Sources: San Miguel raises bid for Australia’s National Foods, Brewer tops Fonterra bid,