MANILA: A Laguna-based polvoron manufacturer, ChocoVron, is seeking a PHP500 million (USD8.75 million) investment to significantly expand its production capabilities. The company presented this opportunity to the Federation of Philippine American Chambers of Commerce during their trade mission in the Philippines.
According to Philippines News Agency, Marissa Lourdes Yala, vice president of ChocoVron, revealed the company’s expansion plans at the US-PH 2024 Trade Mission Conference held at The Manila Hotel. The proposed expansion aims to triple the production capacity of ChocoVron’s facility in San Pedro, Laguna. Yala emphasized the growing demand for their products, both from export markets and institutional accounts, which necessitates the increased capacity.
The expansion plan also includes doubling ChocoVron’s workforce from its current 200 employees. The company employs individuals who are deaf and mute, highlighting its commitment to inclusive employment practices. ChocoVron’s chief marketing officer,
Jayn Yala, noted that the company has 23 export accounts, predominantly in the United States, Australia, New Zealand, United Arab Emirates, and Taiwan.
New institutional accounts are expected to be added next year, further driving the need for increased production. ChocoVron currently operates two food brands: ChocoVron, known for its chocolate-coated polvoron, and Big Oven, recognized for its brownies. The expansion will also introduce a new brand targeting the premium market segment.
The Yala family began the polvoron business in 2003 with a modest capital of PHP8,000. Last year, ChocoVron’s sales reached PHP220 million. The family is seeking foreign investment to enhance nationwide distribution and brand support.