In a disclosure to the Philippine Stock Exchange, Pilmico International Pte. Ltd., a wholly owned subsidiary of Aboitiz Equity Ventures, Inc. (AEV) said it will purchase 70% equity interest in Vinh Hoan 1 Feed JSC (VHF) from Vinh Hoan Corp. (VHC). The company said it would acquire the remaining 30% within five years at an already agreed price for a total transaction of for $28 million.
Pilmico Foods Corp. is one of the Philippines’ largest flour milling companies, with operations in feed manufacture and pigs.
VHC, the largest producer and exporter of pangasius in Vietnam, is also the fourth largest aquafeed manufacturer in the country, operating a 130,000 tonne/pa capacity feedmill.
VHC produces high quality pangasius fillet and high value-added pangasius-derived products such as collagen and gelatin, with exports to countries in North America, Asia and Europe. VHC and Pilmico plan to invest in research to produce high quality pangasius feeds.
