CemexPH to buy 'APO' and 'Rizal' cement brand trademarks
DMCI [DMC 11.20 unch; 45% avgVol] [link] and a group of Consunji Family-owned companies purchased Cemex Philippines [CHP 1.41 unch; 117% avgVol] from its Mexico-based parent company for P17 billion as part of the Consunji Family’s planned expansion into the cement business and the selling company’s goal to divest of its various Asian operations. While that purchase moves toward an end-2024 completion, the two parties have agreed to a deal that will sell the IP and trademarks associated with the “APO Cement”, “Rizal”, and “Island” brands to CHP for approximately P740 million. As InsiderPH notes, this move will allow the Consunji Family to “rely on the company’s well-known brands to maintain and expand their market position” as the family enters into the “unfamiliar cement business”.
