URC, Vitasoy ink joint venture agreement

February 16, 2017

Universal Robina Corp (URC) and Hong Kong’s Vitasoy Group have established a joint venture to explore the potential of plant-based sustainable beverages in the Philippines, a disclosure by URC to the Philippine Stock Exchange said Thursday.

“We see a perfect fit in this joint venture, as both URC and Vitasoy are companies that strive to promote both consumer well-being and sustainable nutrition,” said URC’s president and chief executive officer Lance Gokongwei.

Vitasoy Group chief executive officer Roberto Guidetti said: “Vitasoy is excited about the partnership of two successful Asian family companies to bring high quality sustainable plant- based beverages to the Filipino community.”

Established in 1940 by Dr. Kwee-seong Lo, Vitasoy is a leading international manufacturer and distributor of a food and beverage portfolio focused on sustainable plant-based nutrition.

Its products include soy and other types of plant milk, such as coconut milk and almond milk, as well as tofu under the Vitasoy brand.   It also offers a variety of teas, juices, distilled water and other beverages under the Vita brand.

Made with non-GMO soybeans, Vitasoy’s soy milk portfolio offers a variety of formulations such as those that have zero cholesterol, are lactose free, low in saturated fat and rich in good quality protein. Vitasoy has manufacturing operations in Hong Kong, Mainland China, Australia and Singapore, and sells to more than 40 markets globally. It has a market capitalization exceeding $2 billion as of January 31, 2017. DMS