Philippines-based food and drink specialist San Miguel is has revealed that it is interested in purchasing the Asian and Philippine operations of US-based fresh produce giant Dole Food, as it looks to further diversify its operations.
The move would be a welcome one for Dole, according to news reports in the Philippines, after Dole announced earlier this year that it would look to undertake a worldwide asset sale and debt reduction programme.
'Somebody approached us about it and we are now looking at it,' San Miguel president Ramon Ang told local media this week.
San Miguel has recently looked to move into areas away from its traditional food and drink operations, as seen with the stakes acquired in Manila Electric and Petron in the Philippines.
Jose Mari Lacson of Campos Lanuza & Co told the Philippine Daily Inquirer that Dole's operations would be in line with San Miguel's food businesses, and that the acquisition could serve as a platform for agricultural production.
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