AgriNurture says The Big Chill to grow profits exponentially

The Big Chill, a beverage and food products retailer and freshly acquired by listed food exporter AgriNurture Inc., is projected to grow its gross profit/income by more than four times this year. AgriNurture submitted the historical and projected financial information on TBC from the year 2009 until 2022 to the Philippines Stock Exchange on Friday. For the year, TBC's income is expected to reach P42.49 million from P9.95 million in 2010. In 2012, TBC's gross profits are expected to hit P128.10 million. In 2013, P190.37 million; 2014, P256.95 million; 2015, P313.99 million; 2016, P355.72 million; 2017, P420.88 million, 2018, P449.99 million; 2019, P503.84 million; 2020, P539.44 million; 2021, P581.99 million; and 2020, P650.44 million. AgriNurture has disclosed that it would use existing funds and fresh capital to finance its acquisition of The Big Chill Inc. AgriNurture said the possible P264-million investment in TBC, equivalent to an 80-percent stake in the company, will be covered by "existing funds...as well as the fresh capital infused by the private placement investors...and other private placements investors who may invest in the company prior to the completion date." AgriNurture said the acquisition "completes" its "farm-to-plate" business model "that would allow and enhance the synergy of all of the company's fruit and vegetable businesses." "Through TBC, which has almost two decades of operating experience, the company will now have the retail-side of its business model that would allow the company to fully maximize the use of its agricultural products," AgriNurture said. With TBC brands retailing outside the Philippines, AgriNurture said the business will use its existing platforms and distribution networks in China, Australia and the US. TBC brands include Big Chill, Fresh Bar, A.N.T.S. Canefusion and Verde. AgriNurture has also disclosed that its corporate secretary, Martin Subido, is also a director of Fab People Inc., the seller of TBC. Subido, however, is not a director of AgriNurture. Also, one of the private investors, Jaime Tiu, is the brother of its president, Antonio Tiu. Jaime Tiu, one of the four private investors that recently infused fresh funds to the company, placed P19.6 million for 2.5 million shares of AgriNurture. CMA/OMG, GMA News