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Universal Robina Corporation

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Universal Robina Corporation
Universal Robina
FormerlyUniversal Corn Products, Inc. (1954–1966)
Company typePublic
PSE: URC
IndustryManufacturing
PredecessorConsolidated Foods Corporation (1961–1974) / CFC Corporation (1974–2010)
FoundedSeptember 28, 1954; 70 years ago (1954-09-28)
FounderJohn Gokongwei Jr.
Headquarters6/F Tera Tower, Bridgetowne, E. Rodriguez, Jr. Avenue, Barangay Ugong Norte,
Quezon City, Metro Manila
,
Philippines
Area served
Asia
Key people
  • Lance Y. Gokongwei
    (Chairman)
  • Irwin C. Lee
    (President and CEO)[1]
ProductsConfectionery, snack foods, grocery and convenience foods, beverages, animal feeds and other agriculture-based products
RevenueIncrease ₱2.9 billion (2022)[2][3]
Increase ₱4.0 billion (2022)[2][3]
Decrease ₱−13.4 billion (2022)[2][3]
AUMIncrease ₱64.8 billion (2020)[2][3]
Total assetsIncrease ₱168.7 billion (2020)[2][3]
Total equityIncrease ₱95.2 billion (2020)[2][3]
Number of employees
13,171 (2024)
ParentJG Summit Holdings
Subsidiaries
  • Danone Universal Robina Beverages[a]
  • Munchy's
  • Nissin-Universal Robina Corporation[b]
  • URC China
  • URC Hong Kong
  • URC Indonesia
  • URC Malaysia
  • URC Myanmar
  • URC Singapore
  • URC Thailand
  • URC Vietnam
  • Vitasoy-URC, Inc.[c]
Websiteurc.com.ph
Former logo used from 1989 until 2016.

Universal Robina Corporation, abbreviated as URC and also known as Universal Robina, is a Philippine company headquartered in Quezon City. It is one of the largest food and beverage companies in the Philippines, along with San Miguel Corporation, Monde Nissin, Mondelez Philippines and Nestlé Philippines.[4]

URC is a core subsidiary of JG Summit Holdings, Inc. (JGSHI) which is one of the largest business conglomerates listed in the Philippine Stock Exchange.[5]

Pasig

History

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The company was founded on September 28, 1954 by John Gokongwei, Jr.[6] under the name Universal Corn Products (UCP) after Gokongwei decided to construct a corn milling plant to produce glucose and cornstarch.

In 1961, Consolidated Food Corporation (later known as CFC Corporation) was established. The company's first product was Blend 45 instant coffee. It became one of the best-selling instant coffee brands in the local market, beating Café Puro and Nescafé at that time. After the success of Blend 45, the company launched the Presto brand to enter the chocolate segment in the late 1960s with its cocoa powder, powdered chocolate drink and confectionery. It later launched Nips, a brand of chocolate candies similar to M&M's. It became a staple among Filipino children.

In 1963, Robina Farms started their operations with poultry products. This mark the beginning of the vertical integration of the Gokongwei businesses, as the farms would be able to purchase feeds from UCP in the future. In the same decade, Robichem Laboratories was established for the veterinary needs of the farms' businesses. In the 1970s, Robina Farms expanded their operations as they entered the piggery business.[7]

In 1966, Universal Robina Corporation (URC) was established. It pioneered the snack food industry in the Philippines with its Jack 'n Jill brand. In 2010, CFC Corporation would be merged with URC.

In 2014, URC expanded to Oceania by acquiring New Zealand-based biscuit company, Griffin's Foods. This was followed by the acquisition of Snack Brands Australia in 2016.[8] In December 2019, URC and German company Intersnack formed Unisnack ANZ, a joint venture comprising Griffin's Foods and Snack Brands Australia. Intersnack held a 40% stake in the consolidated business.[9][10] But URC would exit the venture in August 2021 by selling its stake in Unisnack ANZ to Intersnack.[11]

In November 2021, URC entered an agreement to purchase Malaysia-based Munchy's from CVC Capital Partners for US$454 million.[12]

Presence

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URC is based in Quezon City and as of 2018 has 19 production sites in the Philippines. It also has production sites in China, Myanmar, Thailand, Vietnam and Malaysia. The company also maintains an exclusive distributor presence in Laos and Cambodia, as well as sales offices in Hong Kong and Singapore.[8]

Sports

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URC owned the Philippine Basketball Association franchise Great Taste Coffee Makers which played from the inaugural 1975 season to 1992 when the company sold the team to Sta. Lucia Realty.[13] The Coffee Makers won six PBA championships.

See also

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Notes

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  1. ^ Joint venture with Danone S.A.
  2. ^ Joint venture with Nissin Foods Holdings Co., Ltd.
  3. ^ Joint venture with Vitasoy International Holdings Ltd.

References

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  1. ^ Dumlao-Abadilla, Doris (April 26, 2018). "URC names Lee new CEO". Philippine Daily Inquirer. Retrieved June 5, 2018.
  2. ^ a b c d e f "Universal Robina Corporation".
  3. ^ a b c d e f "Wall Street Journal".
  4. ^ "About Us".
  5. ^ "Company Information". PSE Electronic Disclosure Generation Technology. The Philippine Stock Exchange. Retrieved September 29, 2019.
  6. ^ "URC.PH | Universal Robina Corp. Company Profile & Executives - WSJ". www.wsj.com. Retrieved September 28, 2020.
  7. ^ "Universal Robina Corp". Nikkei Asian Review. Retrieved January 28, 2019.
  8. ^ a b Dumlao-Abadilla, Doris (December 3, 2018). "Globalizing corporate Philippines". Philippine Daily Inquirer. Retrieved September 29, 2019.
  9. ^ "URC sells stake in snacks joint venture to partner Intersnack". BusinessWorld Online. July 30, 2021. Retrieved January 5, 2023.
  10. ^ Berry, Kim (July 17, 2019). "Snack Brands Aust owner and Intersnack Group deal". Food & Drink Business. Retrieved January 5, 2023.
  11. ^ Burgos, Jonathan (August 2, 2021). "Philippine Gokongwei Group Exits Australia, New Zealand Snack Foods Business". Forbes. Retrieved January 5, 2023.
  12. ^ Burgos, Jonathan. "Philippines' Gokongwei Group Buys Malaysia's Munchy For $454 Million, Boosting Southeast Asian Footprint". Forbes. Retrieved January 5, 2023.
  13. ^ "PBA honors founding team owner John Gokongwei with a moment of silence". Spin.ph. Retrieved September 28, 2020.
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