Food and beverage maker Monde Nissin Corp. is buying a controlling stake in the still incorporating goods trader Amico Innovations for P17.5 million.
Monde told regulators on Tuesday of its bid to acquire 70 percent of the goods trader with its subscription to 87,500 common Amico shares. It said the subscription completes on or before 30 September this year.
According to the Philippine headquartered multinational, it is buying Amico Innovations for the purpose of exploring opportunities in new categories and businesses.
Monde Nissin was recently honored as Supplier of the Year 2023 by grocery operator Puregold Price Club Inc., in recognition of their two-decade partnership in helping empower small businesses across the Philippines.
Its partnership with Puregold began in 1998 when the supermarket chain opened its first outlet. Since then, the two companies have collaborated on programs aimed at supporting small businesses.
“It’s a tremendous honor to receive this recognition from Puregold, and we sincerely appreciate their ongoing support,” Monde Nissin chief commercial officer Samuel C. Sih, said.
“With their assistance in distributing our products, we have been able to carry out our mission of reaching more Filipino households and supporting independent vendors,” he added.
In addition to the Supplier of the Year award, Monde Nissin received four other accolades at Puregold’s Suppliers Night event, including Grand Ka-Asenso Platinum Category, first runner up; Ka-Asenso Favorite Platinum Category, champion; Brand of the Year: Monde Mamon, first runner; up and Team Lead of the Year, champion.
