‘Throughout the globe, the demand for coconut merchandise is on the rise, underpinned by long-term shifts towards more healthy consumption and wellness-oriented existence,’ says agribusiness conglomerate Century Pacific Meals
MANILA, Philippines – The Po household’s agribusiness continues to experience the worldwide shopper shift towards wholesome meals and lively existence.
Agribusiness conglomerate and meals exporter Century Pacific Meals Included (Century Pacific) mentioned on Thursday, October 16 that it acquired one other built-in coconut processing facility in Mindanao, this time in Tupi, South Cotabato, from legacy agency Roxas and Firm for P2.6 billion.
Century Pacific, which provides uncooked materials for the worldwide coconut water model Vita Coco, mentioned the acquisition would enhance its coconut processing capability.
“Throughout the globe, the demand for coconut merchandise is on the rise, underpinned by long-term shifts towards more healthy consumption and wellness-oriented existence. As one of many world’s high coconut producers, the Philippines enjoys a aggressive edge, with Century Pacific amongst its rising gamers enjoying in each export and home markets,” Century Pacific mentioned in a disclosure to the Philippine Inventory Change.
Final January, Century Pacific renewed its long-term P14-billion contract with The Vita Coco Firm, which has change into a pacesetter in coconut water globally. World pop icons akin to Madonna and Rihanna, in addition to sports activities celebrities like American tennis participant Amanda Anisimova, have endorsed Vita Coco.
Coconut water is being marketed as a “pure supply of electrolytes and antioxidants” which can be wanted for good well being and hydration.
In 2024, Century Pacific’s development was pushed by its OEM exports akin to coconut water concentrates. The corporate attributed the 36% development year-on-year to “a positive commodity cycle and robust demand for more healthy merchandise.”
Century Pacific mentioned the acquisition of the built-in coconut facility was through its wholly owned subsidiary Coco Harvest Included, which purchased it from Roxas and Firm subsidiary Roxas Sigma Agriventures Included.
“The plant at present produces high-value coconut merchandise akin to coconut cream, coconut milk, virgin coconut oil, and coconut water focus. Deliberate enhancements will additional broaden its capabilities to serve each home and export markets, including new product traces and bettering total effectivity,” Century Pacific mentioned.
Century Pacific has two different coconut processing hubs in Mindanao, one in Normal Santos Metropolis, and one other in Misamis Occidental.
Roxas and Firm mentioned proceeds from the sale of this facility shall be used to repay the money owed and liabilities of Roxas Sigma. It was additionally according to the legacy agency’s determination to give attention to creating its landholdings in Nasugbu, Batangas.
Roxas Sigma’s coconut processing facility began industrial operations in 2018 producing all-natural coconut cream and milk, coconut water focus, and virgin coconut oil to shoppers worldwide. It has round 150 common employees. The power it bought can also be a giant purchaser of dehusked nuts and helps present livelihood in South Cotabato.
“We’re assured that Century’s plans to improve the power will usher in a brand new section of development and expanded product choices,” mentioned Antonio Roxas, Roxas Sigma’s enterprise improvement supervisor.
With the acquisition, Century Pacific mentioned its coconut operations will make use of round 800 employees in Mindanao.
“This acquisition is a milestone for our coconut enterprise and a testomony to our dedication to inclusive development. By increasing our capability in coconuts, we not solely improve our competitiveness within the world coconut trade but in addition create significant financial alternatives for native communities in Mindanao,” mentioned Noel Tempongko, vice chairman and basic supervisor of Century Pacific’s OEM Coconut Exports. An OEM or Authentic Tools Producer produces uncooked supplies or elements that one other firm wants.
“The extra capability will permit us to innovate and serve the market with extra high-quality, better-for-you coconut merchandise, supporting our mission to ship reasonably priced vitamin to our shoppers,” Tempongko added.
Century Pacific ventured into the coconut trade in 2012, manufacturing coconut water for OEM exports. It additionally produces and exports the coconut water model Aqua Coco. It has since expanded its manufacturing capabilities to incorporate a wider vary of merchandise akin to Coco Mama Recent Gata.
In 2020, Century Pacific ventured into the vegan meat different with its unMEAT merchandise. Other than the Philippines, these merchandise are actually bought in over 13,000 factors of sale within the US, Singapore, China, Center East, and Europe.
The Century Pacific Group was began in 1978 by Ricardo Po Sr., centered on exporting canned tuna, with well-known manufacturers like Century Tuna, 555, and Ligo. It has since grown the enterprise into different food-related companies, together with meat (e.g. Argentina model), and dairy (e.g. Birch Tree, Angel). – Rappler.com
