From a small family business established in 2003, ChocoVron, based in San Pedro City, Laguna, has positioned itself as one of the best-selling brands of polvoron, or Filipino shortbread.
Now, it has set its sights on further expansion, as it pitched a half-a-billion-peso investment opportunity to members of the Federation of Philippine American Chambers of Commerce, who are on a week-long trade mission in the country.
In a media interview, ChocoVron vice president Marissa Lourdes Yala said the P500 million (USD8.75 million) expansion plan of the company will triple the capacity of its production facility in Barangay San Antonio, where the company is currently based.
“Talagang lumalaki ang account, and then wala kami ‘yong fund na additional na working capital,” she said.
Yala said this investment will also double the number of their employees currently at 200. The company also employs deaf and mute workers.
She said the company needs to raise its production to meet the increasing demand from exports and institutional accounts.
ChocoVron chief marketing officer Jayn Yala in her presentation said the company currently has 23 export accounts mostly in the United States, Australia, New Zealand, United Arab Emirates, and Taiwan.
The younger Yala said there were new institutional accounts for the company next year.
Currently, the company has two food brands—ChocoVron for confectionery products, known for its chocolate-coated polvoron, and Big Oven known for its moist and chewy brownies.
She said the expansion project of their family business will be for new brand that will cater to the premium market.
“We are here to explore the opportunity of having gaining investments from foreign investors, so we would be able to expand our nationwide distribution and by strengthening our brand and providing support to these accounts,” she said.
(With report from PNA)
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