Vitarich, the poultry company owned by the Sarmiento family, is set to enter into three supply contracts with Luzon Agriventure Inc. (LAVI), marking a significant development in their business collaboration.
Under the first contract, Vitarich will supply day-old chicks and feeds to LAVI, while LAVI will reciprocate by providing broilers to Vitarich. This agreement solidifies their partnership and strengthens their respective positions in the poultry market.
The second contract focuses on Vitarich’s provision of feeds to LAVI, with LAVI reciprocating by supplying hatching eggs to Vitarich. This mutually beneficial arrangement strengthens their supply chain and enhances their respective operations.
Furthermore, Vitarich’s board of directors has authorized the company to enter into a contract for the supply of hatching eggs to Vitarich, while also securing the supply of feeds from LAVI.
Specific details regarding the terms, conditions, and transaction price of these contracts will be disclosed in a report to be filed within three calendar days of the contract’s execution.
LAVI is a related party of Vitarich, as some of its directors hold stockholder/director and/or officer positions within LAVI.