The newly formed unit under the MVP Group of Companies also unveiled plans for the construction of Metro Pacific Dairy Farms, a joint venture with Israel-based LR Group with the presence of Ambassador Ilan Fluss in Bay, Laguna during the groundbreaking ceremony.
The soon to be constructed P2 billion state-of-the-art dairy farm in Bay, Laguna is expected to produce 6.5 million liters of fresh milk a year. There will be an initial capacity of 1,000 cows and more may be added in the future.
Recently, Carmen’s Best Ice Cream headed by Paco Magsaysay under The Laguna Creamery Inc or TLCI entered a deal with Metro Pacific Investments Corp. The latter acquired 51 percent of the outstanding shares of TLCI and other involved parties which collectively represents the Carmen’s Best Group.
Carmen’s Best Group is behind Carmen’s Best Ice Cream, the popular home-grown premium ice cream band.
In a disclosure to the stock exchange, Manny Pangilinan’s MPIC signed a deal of 571,803 common shares in TLCI for P198 million as it diversifies its investment portfolio to include the agriculture sector.