San Miguel has comparatively few rivals as the world's most valuable Filipino brand. San Miguel Corporation produces one of the top three beer brands in Asia, as well as the world's single biggest-selling gin by volume. (In Europe, San Miguel beer is produced under license by a separate company, Grupo Mahou San Miguel). In the 2000s, SMC forged a partnership with Japanese brewer Kirin, which acquired a 48% stake in the San Miguel brewery, making the business effectively a joint venture between the two companies. Over the next few years, San Miguel moved aggressively into areas. Oil refiner and retailer Petron is now the group's single biggest business and it has interests in infrastructure, public utilities and packaging. Alcohol now contributes only a comparatively small share of group revenues but the brewery business wholly dominates the Filippino market with over 90% share through San Miguel itself, Red Horse and Cerveza Negra. Combined volumes were 260m cases in 2017. Sister company Ginebra San Miguel is the leader in the Philippine distilled spirits market. Its namesake brand is the world's biggest-selling gin with volume sales of 26m cases in 2017 and a retail value of $860m. San Miguel Foods is one of the country's biggest food producers, with brands including Purefoods hotdogs, Magnolia chicken or Monterey ready-to-eat meat dishes The company was originally founded in Manila in 1890 as La Fabrica de Cerveza de San Miguel, under royal grant from the King of Spain to be the first brewery not just in the Philippines but in all of South East Asia. A century later it was acquired by local businessman Eduardo Cojuangco, providing the corporate platform for a string of additional enterprises which made Cojuangco one of the Philippines' richest tycoons. He remained executive chairman until his death in 2020. Ramon Ang is president. Revenues were around $16bn in 2017.
Capsule checked 25th February 2019
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