“When [MPIC] invested in Carmen’s Best, we wanted it to become a half-a-billion business by 2027, and now we are cutting that shorter,” MPAV President Jovy I. Hernandez told“By 2025, we will reach that, and that’s not yet with LR,” he added, referring to MPAV’s partnership with Israel’s LR Group to expand MPIC’s existing dairy business.
MPAV and LR Group are investing P2 billion in the partnership, which aims to build a dairy facility in Bay, Laguna. They aim to produce at least six million liters of milk every year. The operation is expected to begin in late 2025 or early 2026.MPIC previously entered into a partnership with Carmen’s Best Group, which consists of Carmen’s Best Dairy Products, Inc., Carmen’s Best International Dairy Co., Inc., Real Fresh Dairy Farms, Inc., and The Laguna Creamery, Inc.
MPAV was set up by MPIC to be the arm that will drive all agricultural endeavors and the ambition to develop the food sufficiency of the Philippines’ agricultural sector, starting with the growth of Philippine dairy as an industry, according to the company.