LISTED food and beverage manufacturer Century Pacific Food, Inc. (CNPF) is expanding its coconut processing capability with a $45-million (around P2.6 billion) investment to amass and upgrade a completely integrated facility in Tupi, South Cotabato, from Roxas Sigma Agriventures, Inc. (RSAI) through its subsidiary Coco Harvest, Inc. (CHI).
In an announcement on Thursday, the corporate said the transaction marks its third coconut processing facility within the Philippines, following its existing plants in General Santos and Misamis Occidental, the latter acquired in 2024.
It said the investment shall be funded through internally generated money flows.
The plant produces high-value coconut products comparable to coconut cream, coconut milk, virgin coconut oil, and coconut water concentrate.
Planned upgrades, the corporate said, will expand its capabilities to serve each domestic and export markets, add latest product lines, and improve overall efficiency.
CNPF also said the acquisition is anticipated to create around 800 manufacturing jobs in Mindanao and support local coconut farmers through its supply chain network.
“This acquisition is a milestone for our coconut business and a testament to our commitment to inclusive growth,” said Noel M. Tempongko, Jr., CNPF vice-president and general manager for OEM Coconut Exports.
“By expanding our capability in coconuts, we enhance our competitiveness in the worldwide coconut industry and create meaningful economic opportunities for local communities in Mindanao.”
CNPF began manufacturing coconut water for export in 2012 and has since expanded into producing a spread of coconut-based products for domestic and overseas markets.
It also partners with regional players comparable to Linaco Manufacturing in Southeast Asia.
In 2019, the corporate launched its own branded coconut line within the local market. It recently renewed a five-year supply contract with The Vita Coco Company, Inc., valued at about P14 billion, which can take effect in January 2026.
In a separate disclosure, Roxas and Company, Inc. (RCI) said its subsidiary RSAI sold the two.2-hectare integrated processing facility to cut back debt and deal with the event of its landholdings in Nasugbu, Batangas.
“We’re confident that Century’s plans to upgrade the power will usher in a brand new phase of growth and expanded product offerings,” RSAI Business Development Manager Antonio T. Roxas said.
On Thursday, CNPF rose by P1.25 or 3.42% to shut at P37.75 apiece, while RCI slipped by one centavo or 0.36% to P2.79 each. — Alexandria Grace C. Magno