The four brands covered by the trademark acquisition agreement are Bowling Gold, Stork, Miller, and Bowling Green. PMPMI currently manufactures and distributes the international premium brands Marlboro and Philip Morris Menthol 100s and the mid-price brand L&M.
PMPMI managing director Chris Nelson said the acquisition of the four brands complements the company’s existing portfolio of international premium brands and would now enable it to compete in the low price segment of the cigarette business in the country.
Nelson said the expansion of PMPMI’s brand portfolio would be supported by PMPMI’s $300-million state-of-the-art cigarette manufacturing facility in Tanauan City, Batangas, which commenced operation late last year.
The new factory is the single biggest investment of Phillip Morris International (PMI) in the Asian region.
Nelson added that the acquisition also provides the opportunity for the company to further develop and enhance the growth and quality of local cigarette trademarks.
Nelson explained that "as a business objective, PMPMI continues to look for opportunities to build its brand portfolio to compete in every significant price segment."
The acquisition of the four local brands, Nelson added, is part of PMPI’s commitment to "partner in the growth of the Philippine economy by helping develop the local tobacco industry."