Popular Feedmill Corporation, which built its first factory in 1995, currently has about 500 employees. The company has two production sites including a recently opened site in Bulacan near Manila and another in Cebu. The company produces approximately 150,000 tonnes of pig, poultry, aquaculture, and pet feed per year. InVivo NSA has strong expertise in the latter in Mexico and Brazil and possible synergies between the three countries are being explored, InVivo said.
The Philippines has a population of over 100 million people, and is expected to grow by 57% by 2050, InVivo said. This would make it the 10th most populated country in the world. The country already has a high need for a diverse and top quality offer in animal proteins. Through this acquisition, InVivo NSA will have industrial, technical, and commercial means to provide a product and service offering adapted to market stakes: complete feed, aquaculture, pet food and subsequently premix, additives and specialties, analysis laboratories, and animal health, the company said.
InVivo NSA is in the animal nutrition and health industry and a key player in South-East Asia. This global positioning will allow Popular Feedmill Corporation to rely on countries close to the company in the area (China, Vietnam, and Indonesia) and benefit from key synergies serving its growth, the company said. The company's cross-cutting skills and expertise worldwide (innovation, procurement of raw materials, formulation, technical support, and marketing) will also allow it to optimize functioning and operations.
"The acquisition of Popular Feedmill Corporation confirms our willingness to develop on the rapidly growing markets of South-East Asia,” said Hubert de Roquefeuil, chief executive officer of InVivo NSA. “It will also allow us to diversify and strengthen our revenue sources in the area to continue to build an even more efficient and resilient corporate business model."