After nearly seven decades, Liberty Flour Mills (LFM) is preparing to sell the business that has long been at the heart of the company.
The flour milling firm led by John Carlos Uy and William Ang will seek shareholder ratification for the sale of its flour mill business at its September 23 annual stockholders’ meeting. LFM has also tapped ARQ Capital to broker the transaction and authorized management to negotiate with potential buyers.
The move marks a shift from an earlier strategic review, which considered several options for the business, including a sale, demerger, joint venture or continued ownership.
LFM has yet to disclose an asking price. As of end-2025, its mill machinery and equipment were valued at P210.9 million, while its buildings and building equipment carried a value of P128.6 million.
A Core Business Still Growing
Founded in 1958, LFM was among the country’s early domestic flour millers. Its Mandaluyong facility produces flour and feed products under brands including Maya All-Purpose Flour, El Superior, Pine Tree, LFM Soft and LFM Bakers.
Flour and feed remain the company’s main revenue drivers. The business generated about P1.13 billion in sales in 2025, with hard and soft flour accounting for 91% of sales and mill feed contributing another 8%.
The business also posted stronger results this year, with first-half 2026 sales rising 13.1% to P597.3 million, driven by higher volumes and a better sales mix.
LFM Also Unlocks Value From Property Portfolio
Beyond the mill, LFM is putting several properties up for sale, including assets in Taguig, Tagaytay, Batangas and Mandaluyong.
The company’s investment properties had a carrying value of P 705.4 million at the end of 2025 but an independently appraised fair value of P 5.74 billion—highlighting the potential value LFM could unlock through asset sales.
The company has already seen the upside. In December 2025, it sold parcels in Rizal for P366.9 million, booking a P 354.1 million gain on land previously carried at just P 1.8 million.
LFM also authorized Uy and Ang to sign a non-disclosure agreement with Wilmar, though it did not disclose the purpose of the agreement or whether it is connected to the planned flour business sale.
