Nestlé to invest 2 billion pesos annually in the Philippines until 2027

share on

twitter /
facebook /
linkedin /
- email
- telegram
- whatsapp
- wechat
- pinterest
- line
- snapchat
- reddit

Nestlé Philippines plans to invest 2 billion pesos (US$34 million) annually over the next three years to strengthen its operations in the country, reports say. The investment will focus on expanding production capacity, upgrading technology, and improving factory efficiency to meet increasing consumer demand.

According to Nestlé Philippines chairman and CEO Kais Marzouki, the Philippines is the company's largest market in ASEAN and ranks sixth globally, as quoted by Inquirer. The company posted a topline revenue of 169 billion pesos (US$2.9 billion) in 2023, with further growth anticipated as inflationary pressures eased. Marzouki highlighted the country's economic potential, noting that Nestlé has seen an average growth rate of 5% in recent years.

As part of its expansion strategy, Nestlé is exploring new product categories. Group CEO Laurent Freixe pointed to the cold coffee segment and pet food as key areas of interest, citing strong potential for both in the local market.

Don't miss: Nestlé Indonesia's Guy Kellaway takes on new marketing role within firm

Nestlé currently operates five production facilities in the Philippines, located in Laguna, Cagayan de Oro, Bulacan, and Batangas. Inquirer also reported that beyond its business investments, the company plans to expand its Nestlé Wellness Campus (NWC) programme, which currently reaches 26,000 public schools.

Marzouki stated that the initiative, launched in partnership with the department of education, has already expanded to eight regions, with a long-term goal of covering the entire country.

In the Philippines, Nestlé's top-selling brands include Nescafé, Bear Brand, Milo, and Maggi.

At the same time, Nestlé Mexico said it will invest US$1 billion in the Latin American market over three years to expand production, Mexican President Claudia Sheinbaum announced in a social media video with Nestlé executives.

share on