How the small family-owned dairy farm led to the humble founding of The Carmen’s Best and then an almost PHP 200-million acquisition by the Metro Pacific group, and the steps they are taking toward Philippine food autonomy
When Filipinos think of premium ice cream, top-of-mind is almost always the gelaterias of Italy or the American brands best known for their inventive flavours and clever product placements in movies and TV shows. Slowly but surely, though, Philippine-made Carmen’s Best has infiltrated that AB market, which willingly pays for top quality.
When founder Paco Magsaysay started making and selling ice cream with milk from his father Jun’s dairy farm, he merely saw it as a necessity to utilise the fresh milk that at the time was not selling as quickly as they hoped. When they started Carmen’s Best Dairy Products in 2009, it was still a year later when Magsaysay realized the potential of creating a product that he truly loved, something that he would always consume during his travels abroad and ate so much of growing up in the US. He named it after his daughter Carmen, one of three offspring, with the intention that naming a product after his daughter would be a constant reminder for Magsaysay to only use the best ingredients. “I will never shortchange the quality of the ice cream because it’s the name of my daughter,” he says on their website. “I will not cut back (on ingredients) to save or to earn a bit of money because that means I am not being true to Carmen.”
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Magsaysay’s dedication did not go unnoticed as the brand continued to grow its following, and after more than a decade the big guys came knocking. Metro Pacific Investments Corp (MPIC) entered into a strategic partnership with The Laguna Creamery Inc. (also known as the Carmen’s Best Group) in 2022 acquiring a controlling stake in all its interests. Metro Pacific Agro Ventures (MPAV)— a wholly-owned subsidiary of MPIC— now operates the Carmen’s Best Group, including Holly’s Milk, which makes locally homogenised and pasteurised fresh milk.
Back then, MPIC chairman Manuel V. Pangilinan shared his optimism in how planting these seeds of growth will impact the country on a larger scale: “The agricultural sector presents a wide range of possibilities that can help us achieve several goals— to strengthen the food supply chain and augment the accessibility of resources for all Filipinos as well as provide more opportunities for growth in an otherwise underserved business. Ultimately, the country should aim for substantial independence in food. And we must feed our people first,” said Pangilinan.
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