Corporate News

Calata takes controlling stake in major meat supplier

Posted on December 03, 2013

A LISTED agribusiness firm has taken diversification a step further by going into meat production, the company -- which had been focused on providing farm inputs like feeds and agro-chemicals -- said in a disclosure yesterday.

Calata Corp. said it “has acquired controlling interest in the meat business of Galicia Group, including all its existing facilities.”

Calata described the group as having been in meat production “for more than three decades and continues to be a key supplier of meat products of large retail outlets...” It noted the group had been the exclusive source of pork, beef and chicken meat for SM Supermarket-owned “SM Bonus” brand for more than a decade and is now a Puregold Supermarkets supplier.

Calata reported last Nov. 19 that profit dropped 13.69% to P61.469 million as of September from P71.223 million in the same nine months last year, partly on lower sales as it develops its own brand of products “for higher margins” and “more stable sales in the long term.”