San Miguel Looking to U.S.
Food and beverage giant San Miguel Corp. said it was looking at possible acquisitions in the United States.
In a disclosure at the Philippine Stock Exchange, San Miguel said it is studying investment opportunities outside the Asia Pacific region.
"The company confirms that, in line with its expansion program, it is studying investment opportunities not only in Asia Pacific but even in other countries," San Miguel said.
The company, however, declined to elaborate, saying only it will make appropriate disclosures once deals have been firmed.
San Miguel has been aggressively expanding in the Asia Pacific region in an effort to increase the revenue contribution of its international operations.
Recently, San Miguel acquired a 50% stake in Australian company Berri Ltd. and entered into a joint-venture agreement with Singaporean Super Coffeemix Ltd. as part of the company's expansion plans in the region.
The company also has acquired or broke ground for facilities in Thailand, Vietnam, Indonesia and Malaysia this year. Locally, the company is also acquiring new facilities and expanding existing plants to address greater consumer demand.