The story
Holland Milk Products, Inc. (HOMPI) was established in 1969 by Wilfred Uytengsu Sr. and George K. Young. It was a joint venture between General Milling Corporation (GMC) and Holland Canned Milk International B.V. (now FrieslandCampina), with HOMPI's first plant in San Pedro, Laguna commencing operations in September 1972. HOMPI initially manufactured canned liquid milk (evaporated milk and condensed milk). It eventually expanded to manufacture powdered milk and UHT milk. In 1975, Marikina Dairy Industries, Inc. became a shareholder of HOMPI, and by 1978 was itself acquired by HOMPI from the Australian Dairy Corporation.
In 1994, HOMPI was spun off from GMC and incorporated as Alaska Milk Corporation (AMC) under the control of Wilfred Uytengsu Sr. Shortly after its incorporation, AMC was listed in the Philippine Stock Exchange (PSE) in 1995.
Wilfred Steven Uytengsu Jr., eldest son of Wilfred Sr., assumed the position of president and CEO in 2007. The elder Uytengsu died in April 2010 at the age of 82.
In 2007, AMC acquired the canned milk business of Nestlé Philippines. The acquisition included the Alpine, Liberty, and Krem-Top trademarks, as well as the trademark licenses (until 2021) for Nestle's Carnation and Milkmaid brands.
In 2012, FrieslandCampina acquired majority control of AMC from the Uytengsu family. On November 5, 2012, AMC was delisted from the PSE after FrieslandCampina completed its tender offering for 98.1% ownership of AMC. Prior to this, FrieslandCampina held an 8.1% interest in AMC. Wilfred Steven Uytengsu Jr. remained as president and CEO until the end of 2018. Since 2019, Uytengsu serves as the Chairman of the company.
From Wikipedia’s article on Alaska Milk Corporation, shared under CC BY-SA 4.0.5