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 Corporation. 

The Bank, which was tapped by DMPL as a major lender, described the $1.67-billion acquisition as a milestone, putting an affiliate of Del Monte Philippines in one of the largest markets in the world. 

DMPL Managing Director and Chief Executive Officer, 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". The DMPL Group has the exclusive rights to 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. 

“This transaction certainly makes us proud to be Filipinos as we see a Filipino-controlled company breaking grounds in mainstream US consumer food market,” said BDO EVP and head of 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 Managing Director and CEO Joselito D. Campos Jr., BDO president Nestor V. Tan, and DMPL executive director Edgardo M. Cruz Jr.