Tan group won’t go into meat processing business

Businessman Lucio Tan has no plans to going into the meat processing business, contrary to media reports, Salvador M. Mison, president of Basic Holdings, Inc., said yesterday.

Mison made the statement to squelch talks circulating in the business community that the Lucio Tan Group has reportedly acquired the Winner and El Rancho corned beef brands from the Cebu-based Virginia Food Corp.

Media reports said that the Tan group is allegedly set to launch a P60-million advertising campaign nationwide to promote the two brands, which are reportedly market leaders in the Visayas and Mindanao.

The reports, quoting industry sources, even identified actress Sharon Cuneta as the main endorser of Winner corned beef.

"We were surprised by published reports that meat processing firm Virginia Food Corp. of the Chiongbian family was sold to Mr. Tan," Mison said.

"I am not aware of any sale to the Tan Group," he added.

Basic Holdings, Inc. is the holding company of the Lucio Tan Group.