MANILA, Philippines - ARC Refreshments Corp., the exclusive distributor of RC Cola in the Philippines, has approved the acquisition of two plants of Zest-O Corp. located in Novaliches and Canlubang, Laguna.
In a disclosure to the Philippine Stock Exchange, ARC, owned by businessman Alfredo Yao, said all the machineries and equipment as well as inventories and other assets of the two plants would be used for the production and distribution of its beverage products.
Other brands that ARC carries are Fruit Soda Orange, Juicy Lemon and Arcy’s Rootbeer.
Yao earlier announced plans to put up new RC Cola plants in Thailand and Myanmar as the group expands operations in Southeast Asia ahead of the region’s economic integration.
Yao’s Mazy Capital Inc. took over Maybank ATR Kim Eng Financial Corp. last year, resulting in a backdoor listing at the local bourse.
From January to March this year, ARC posted a net income of P408 million, 108 percent higher than the previous year’s figures, driven by strong market demand and a successful distribution system.
Aside from ARC, Yao also controls mid-sized lender Philippine Business Bank. He used to hold a significant stake in Zest Air.