September 3, 2025 | 12:00am
MANILA, Philippines — Metro Pacific Investments Corp. (MPIC) of tycoon Manuel V. Pangilinan is optimistic about its foray into the food and restaurant business through a P1.2-billion investment in Eight8Ate Holdings Inc., the operator of Conti’s Bakeshop and Restaurant and Wendy’s Philippines.
“We felt it was a sound business move, though we come in only as a minority investor,” MPAV president and CEO Jovy Hernandez told The STAR.
The STAR previously reported that MPIC’s wholly owned subsidiary, MPAV, has executed share purchase and subscription agreements for a 15-percent stake in Eight8Ate Holdings.
The acquisition, which was executed on July 21, 2025, was valued at about P1.2 billion.
Hernandez said several synergies are expected with the group’s investment in Eight8Ate.
“For example, Conti’s is actually an existing customer of Carmen’s Best Cheese,” Hernandez said.
“Other dairy products can be used by Conti’s due to its bakery side. Of course, we have to win them over like everybody else,” he said.
MPAV’s growing platform includes investments in coconut through Franklin Baker and Axelum, dairy through Carmen’s Best and Bukidnon Milk Co., and fruit/vegetable production through Metro Pacific Fresh Farms, the Philippines’ largest climate-controlled greenhouse facility.
Also joining MPIC as a new investor in Eight8Ate is the San Miguel Group of tycoon Ramon Ang.
Ang, chairman and CEO of San Miguel Corp., also said that his group also now owns a 15-percent stake in Eight8Ate.
As one of the country’s largest and most diversified conglomerates, SMC’s product portfolio includes beer, spirits, non-alcoholic beverages, poultry, animal feeds, flour, fresh and processed meats, dairy products and coffee, among others.
Eight8Ate Holdings is a food and restaurant operator that owns a premium casual dining restaurant, Conti’s, and a fast-food chain, Wendy’s, in the Philippines.
It is also the company behind MASUMA Food Industry Inc., Good Mood Food and Better Coffee.
Eight8Ate was previously owned by Udenna Corp. of Davao-based businessman Dennis Uy before it was sold to Crystal Jacinto of EW Villa Medica Manila last year.