May 11, 2016
InVivo buys Philippine feed mill company
InVivo NSA has acquired a key player in animal feed production in the Philippines, Popular Feedmill Corporation.
InVivo NSA has been experiencing strong growth in the country for many years, and the acquisition materialises the company's desire to develop its industrial presence and investments in Asia where it already holds strong positions in several countries: Vietnam, Indonesia, China, India, Cambodia, Myanmar and Thailand.
Popular Feedmill Corporation, which built its first factory in 1995, employs about 500 people. The company has two production sites - a recently opened site in Bulacan near Manila and another in Cebu. The company produces about 150,000 tonnes of swine, poultry, aquaculture, and pet feed per year.
The Philippines has a population of over 100 million, which is expected to grow by 57% by 2050. This would make it the tenth 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 the 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 specialities, analysis laboratories, and animal health.
The acquisition 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.
Hubert de Roquefeuil, CEO of InVivo NSA said, "The acquisition of Popular Feedmill Corporation confirms our willingness to develop on the rapidly growing markets of Southeast Asia. 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."