April 18, 2007

Philippines' Alaska Milk buys 3 liquid milk brands from Nestle

Alaska Milk Corporation announced Tuesday (April 16) it acquired three Philippine-registered liquid milk brands--Alpine, Liberty and Krem-top--from Swiss company Societe des Produits Nestle S.A.

According to the Philippine Daily Inquirer, Nestle gave Alaska the license to import, manufacture, distribute and sell in the Philippines two of its other liquid milk product brands: Carnation and Milkmaid.

Alaska corporate secretary Santiago Polido said the company purchased the brands to add up to its own line of liquid milk. 

Alaska recently reported a 2006 net income of P404 million, up 34 percent from P301 million in 2005.

The company said revenues grew nine percent to P5.9 billion in 2006 from P5.4 billion, with increased sales volume for all products.

Retail grocery consumption of evaporated, condensed and powdered milk in 2006 dropped 11 percent, it said, citing a general slowdown in consumer spending in the first half of last year, brought by an expanded value-added tax and increased oil prices.

Note: US$1 = P47.66