The Philippine food and beverage conglomerate San Miguel Corp announced on July 10 that it was looking into the condiments business, however denied being in talks with Southeast Asia Food Inc and Silver Swan Manufacturing Co. as it was reported last week in a business report. In a disclosure to the Philippine Stock Exchange, the company said: "We reiterate that the company is interested to expand into the condiment business. However, the company is not in discussions with Southeast Asia Food Inc or Silver Swan Manufacturing Co." The disclosure did not elaborate further on San Miguel's expansion plans. The company has been building up its businesses over the past two years. It acquired the meat-processing firm Pure Foods Corp recently after regaining control of Coca-Cola Bottlers Philippines in a share swap with Australia's Coca-Cola Amatil. It also said last month that it was in talks to acquire a substantial stake in RFM Corp's soft drink unit Cosmos Bottling Corp but the parties had been unable to agree on a price.
