Aboitiz Equity Ventures Inc.
FormerlyCebu Pan Asian Holdings
Company typePublic
PSEAEV
FoundedSeptember 11, 1989; 34 years ago (1989-09-11)
Headquarters32nd Street. Bonifacio Global City, Taguig City. 1634 Metro Manila, Philippines,
Key people
Revenue₱223.93 Billion PHP (2021)
₱27.31 Billion PHP (2021)
Total assets₱733.61 Billion PHP (2021)
Number of employees
285
Websiteaboitiz.com

Aboitiz Equity Ventures (AEV) is a Philippine holding company based in Metro Manila,[1] with roots from Cebu City.[2] The conglomerate operates in six major industries: Power, Banking and Financial Services, Food, Infrastructure, and Data Science and Artificial Intelligence.[3] In 2017, the company was ranked 1793rd on the Forbes Global 2000.[4] In 2022, AEV ventured into transforming its organization into a "Techglomerate" - a faster, stronger, and better version of a conglomerate.[5] A techglomerate can refer to a startup tech company that has grown into a conglomerate or a legacy conglomerate that has used technology and startup culture to radically transform the way it behaves and operates. AEV is the latter of the two.[6]

History

The company was founded on September 11, 1989, as Cebu Pan Asian Holdings; the name was changed to the current designation in 1993.[7] The company went public on November 16, 1994.[8]

Business Units

Power

Aboitiz Power Corporation is a holding company engaged in power distribution, generation, and retail electricity services. It owns Davao Light and Power Company in Davao City, Cotabato Light and Power Company in Cotabato City, Visayan Electric Company in Metro Cebu, the Mariveles Coal-Fired Power Plant in Mariveles, Bataan, Therma South, Inc. Coal Fired Power Plant in Davao City, and Therma Visayas, Inc. Coal Fired Power Plant in Toledo, Cebu[9]

Banking and Financial Services

Food and Beverage

The Food Group, composed of Pilmico Foods Corporation (Pilmico) and Gold Coin Management Holdings, Ltd. (Gold Coin), is the integrated agribusiness and food company of the Aboitiz Group. Pilmico is a leader in operating efficiency, manufacturing flour and wheat by-products in the Philippines. It has also been a strong player in animal feeds and swine production since establishing these businesses in the late 1990s. Meanwhile, Gold Coin is a pioneer in animal nutrition and in manufacturing scientifically-based animal feed in Asia. With the acquisitions of Vinh Hoan Feeds in 2014 and Gold Coin in 2019, the Food Group is currently building capacities and capabilities to sustain profitability and grow its businesses both in the Philippines and in the ASEAN region.[10]

On February 23, 2024, the company announced that it has jointly acquired Coca-Cola Beverages Philippines Inc. together with Coca-Cola Europacific Partners (CCEP) for $1.8 billion on a debt-free, cash-free basis. It will hold a 40% stake, while CCEP will take up the remaining 60% stake.[11][12]

Infrastructure

Aboitiz InfraCapital Inc. undertakes all infrastructure and infrastructure-related investments of the Aboitiz Group.

Land

AboitizLand, Inc. (AboitizLand) is the real estate arm of Aboitiz Group, engaging in the design and development of distinct communities for residential use.

Data Science and Artificial Intelligence

Aboitiz Data Innovation is the Data Science and Artificial Intelligence arm of the Aboitiz Group.[17]

References

  1. ^ "Aboitiz | Contact Us". aboitiz.com. Retrieved December 5, 2022.
  2. ^ "Aboitiz Equity Ventures, Inc.: Private Company Information". Bloomberg. Retrieved December 17, 2017.
  3. ^ "Aboitiz | Aboitiz Equity Ventures Inc". aboitiz.com. Retrieved December 5, 2022.
  4. ^ "The World's Biggest Public Companies List". Forbes.com. May 24, 2017. Retrieved December 16, 2017.
  5. ^ Neil (July 26, 2022). "The birth of the Philippine 'techglomerate'". BusinessWorld Online. Retrieved December 6, 2022.
  6. ^ "Techglomerate In The Philippines". Aboitiz. Retrieved December 6, 2022.
  7. ^ Resil B. Mojares (1998). Aboitiz: Family & Firm in the Philippines. Aboitiz & Company. ISBN 978-971-91903-0-1.
  8. ^ Asiamoney. Euromoney Publications. 1996.
  9. ^ "Aboitiz Power - Clean Energy and Green Living - Home Page". Aboitiz Power. Retrieved May 9, 2019.
  10. ^ "Aboitiz | Aboitiz Equity Ventures Inc". aboitiz.com. Retrieved December 7, 2022.
  11. ^ Cordero, Ted (February 23, 2024). "Aboitiz, CCEP complete $1.8 billion Coca-Cola Beverages PH acquisition". GMA News. Retrieved February 23, 2024.
  12. ^ Camus, Miguel (February 23, 2024). "Aboitiz buys 40% of Coca-Cola PH". Philippine Daily Inquirer. Retrieved February 23, 2024.
  13. ^ "Water Infrastructure Philippines". Aboitiz InfraCapital. Retrieved December 5, 2022.
  14. ^ "Economic Estates". Aboitiz InfraCapital. Retrieved December 5, 2022.
  15. ^ "Digital Infrastructure Philippines". Aboitiz InfraCapital. Retrieved December 5, 2022.
  16. ^ a b "Aboitiz group to pour $300 million into cement business". May 15, 2017. Retrieved December 17, 2017.
  17. ^ "About Us". Aboitiz Data Innovation. Retrieved December 6, 2022.