BDO Unibank, Inc. (BDO) proudly supports Del Monte Pacific Ltd. (DMPL) in its venture to expand in the US via the acquisition of the consumer food business of Del Monte Foods Co. 

The Bank, which was tapped by DMPL as a major local lender, described the $1.67-billion acquisition as a milestone, putting a Filipino-controlled company in one of the largest markets in the world. 

DMPL executive director and managing director Joselito D. Campos Jr. said the signing of a $350-million bridge facility agreement with BDO "came at the most opportune time and will certainly contribute to the success of their acquisition". DMPL is the owner of the Del Monte brand in the Philippines for processed products where it enjoys leading market shares for canned pineapple juice and juice drinks, canned pineapple and tropical mixed fruits, tomato sauce, spaghetti sauce and tomato ketchup.

"We are optimistic that this will bring in more growth opportunities not only for the Del Monte brand in the US but also offer vast untapped markets for the group's condiments business," noted BDO EVP for corporate banking Edmundo S. Soriano. 

In photo during the recent signing of the agreement were, from left, BDO EVP and head of corporate banking Edmundo S. Soriano, DMPL executive director and managing director Joselito D. Campos Jr., BDO president Nestor V. Tan, and DMPL executive director Edgardo M. Cruz Jr.