San Mig Food Closes Biz Operations In Indonesia

San Miguel Food and Beverage, Inc. (the “Company”) is rationalizing its processed meats business in Indonesia operating under PT San Miguel Foods Indonesia (“PT SMFI”), as the Company streamlines its businesses to focus on expansion in the Philippines.

Photo Insert: PT SMFI will cease operations effective October 31, 2021.

PT SMFI is a 75%-25% joint venture between the Company and PT Hero Intiputra. PT SMFI will cease operations effective October 31, 2021.

San Miguel Food and Beverage, Inc. (FB), formerly San Miguel Pure Foods Company, Inc., was incorporated on October 31, 1956, to primarily engage in the business of manufacturing and marketing of processed meat products.

FB, through its subsidiaries, later on diversified into poultry and livestock operations, feeds and flour milling, dairy and coffee operations, franchising, and young animal ration manufacturing and distribution.

In 2018, FB amended its primary purpose and changed its corporate name to the present one to reflect its expansion into the alcoholic and non-alcoholic beverage business.

In the same year, the Securities and Exchange Commission approved the increase in the authorized capital stock of FB, by virtue of which FB issued new common shares to its intermediate parent San Miguel Corporation (SMC) in exchange for SMC’s common shares in San Miguel Brewery Inc. (SMB) and Ginebra San Miguel Inc. (GSMI), completing the consolidation of the food and beverage businesses of SMC under FB.

As a result, FB is now operating in three business segments: beer and non-alcoholic beverages, spirits, and food. Among the brands in its portfolio include "Magnolia" for chicken, ice cream and dairy products; "Monterey" for fresh and marinated meats; "Purefoods" for refrigerated processed meats and canned meats; "Star" and "Dari Crème" for margarine; "San Mig Coffee" for coffee; "La Pacita" for biscuit and flour-based snacks; "B-Meg" for animal feeds; and "San Miguel Pale Pilsen" and "Ginebra San Miguel" for alcoholic beverages.

FB's major operating subsidiaries include San Miguel Foods, Inc., San Miguel Mills, Inc., The Purefoods-Hormel Company, Inc., Magnolia, Inc., San Miguel Super Coffeemix Co., Inc., SMB, and GSMI.

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