Century buys coconut facility for $45M
Canned food maker Century Pacific Food Inc. (CNPF) is acquiring a $45-million processing facility in South Cotabato. This is meant to expand CNPF’s rapidly growing coconut business.
The Po family-led company on Thursday disclosed that it had signed a deal with Roxas Sigma Agriventures Inc. (RSAI). This is for Coco Harvest Inc.’s buyout of RSAI’s third coconut processing facility.
“By expanding our capacity in coconuts, we not only enhance our competitiveness in the global coconut industry but also create meaningful economic opportunities for local communities in Mindanao,” said CNPF vice president Noel Tempongko Jr.
In 2024, CNPF took over Coco Harvest, a producer of coconut water, coconut milk, desiccated coconut and virgin coconut oil in Misamis Oriental. This was done through a $40-million transaction.
The new $45-million investment will be used to acquire and upgrade the processing facility. This stands on a 2.2-hectare property in the town of Tupi.
Inaugurated in 2017, the processing plant of RSAI produces coconut cream and milk, coconut water concentrate and virgin coconut oil.
CNPF plans to expand the facility’s capabilities to serve both domestic and export markets, add new product lines and improve overall efficiency.
“We are confident that Century’s plans to upgrade the facility will usher in a new phase of growth and expanded product offerings,” RSAI Business Development manager Antonio Roxas said in a separate disclosure.
Earlier this year, CNPF said it was banking on its emerging segments to drive its aspiration of growing at a pace double that of the Philippine economy this year. These segments include the coconut business.
The new investment is being made as the company navigates trade uncertainties.
