Type Subsidiary, public Headquarters Philippines | Traded as PSE: MACAY Area served Philippines | |
Founded 2014 (as Macay Holdings, Inc.) Key people Alfredo M. Yao (Chairman)
Antonio I. Panajon (President)
Fernando R. Balatbat (Treasurer) | ||
Macay Holdings, Inc. (PSE: MACAY) is a Philippines-based company engaged in the bottling and distribution of RC Cola and other soft drink beverages in the Philippines.
Contents
History
Macay Holdings, Inc. (Macay) was incorporated on October 16, 1930 as Maybank ATR Kim Eng Financial Corporation (MAKE), an investment holding company focused primarily on financial services.
On September 24, 2013, MAKE shareholder Maybank Kim Eng Holdings, Ltd. entered into a share purchase agreement with Mazy's Capital, Inc. (owned by the group of Alfredo Yao), wherein the latter purchased equivalent 89.75% of the outstanding shares of MAKE.
On December 3, 2013, ARC Refreshments Corporation (ARC) was incorporated as a wholly owned subsidiary. ARC was established to consolidate the bottling, distribution, marketing and sales of RC Cola, Fruit Soda Orange, Juicy Lemon and Arcy's Rootbeer, all of which were held by Asiawide Refreshments Corporation (Asiawide) and Mega Asia Bottling Corporation (Mega Asia) since 2002.
Trading on MAKE was suspended by the PSE on January 2, 2014, pending submission of a comprehensive disclosure on the transaction. The PSE said this was covered by the rules on backdoor listing. ARC acquired all of the bottling machinery and equipment of Mega Asia and the machinery, equipment, bottles and shells, inventory and other assets and certain liabilities of Asiawide. The suspension on the trading of MAKE shares was lifted on January 21, 2014 and trading was resumed the following day.
The Securities and Exchange Commission approved the company's change in corporate name to Macay Holdings, Inc. on January 30, 2014.
In 2014, Macay also acquired ARC Holdings, Inc. (ARC Holdings), holder of the trademark licenses of RC Cola in the Philippines. The group also obtained the master franchise of RC Cola for the ASEAN region.