‘Across the globe, the demand for coconut products is on the rise, underpinned by long-term shifts toward healthier consumption and wellness-oriented lifestyles,’ says agribusiness conglomerate Century Pacific Food
MANILA, Philippines – The Po family’s agribusiness continues to ride the global consumer shift toward healthy food and active lifestyles.
Agribusiness conglomerate and food exporter Century Pacific Food Incorporated (Century Pacific) said on Thursday, October 16 that it acquired another integrated coconut processing facility in Mindanao, this time in Tupi, South Cotabato, from legacy firm Roxas and Company for P2.6 billion.
Century Pacific, which supplies raw material for the international coconut water brand Vita Coco, said the acquisition would boost its coconut processing capacity.
“Across the globe, the demand for coconut products is on the rise, underpinned by long-term shifts toward healthier consumption and wellness-oriented lifestyles. As one of the world’s top coconut producers, the Philippines enjoys a competitive edge, with Century Pacific among its emerging players playing in both export and domestic markets,” Century Pacific said in a disclosure to the Philippine Stock Exchange.
Last January, Century Pacific renewed its long-term P14-billion contract with The Vita Coco Company, which has become a leader in coconut water globally. Global pop icons such as Madonna and Rihanna, as well as sports celebrities like American tennis player Amanda Anisimova, have endorsed Vita Coco.
Coconut water is being marketed as a “natural source of electrolytes and antioxidants” that are needed for good health and hydration.
In 2024, Century Pacific’s growth was driven by its OEM exports such as coconut water concentrates. The company attributed the 36% growth year-on-year to “a favorable commodity cycle and strong demand for healthier products.”
Century Pacific said the acquisition of the integrated coconut facility was via its wholly owned subsidiary Coco Harvest Incorporated, which bought it from Roxas and Company subsidiary Roxas Sigma Agriventures Incorporated.
“The plant currently produces high-value coconut products such as coconut cream, coconut milk, virgin coconut oil, and coconut water concentrate. Planned enhancements will further expand its capabilities to serve both domestic and export markets, adding new product lines and improving overall efficiency,” Century Pacific said.
Century Pacific has two other coconut processing hubs in Mindanao, one in General Santos City, and another in Misamis Occidental.
Roxas and Company said proceeds from the sale of this facility will be used to pay off the debts and liabilities of Roxas Sigma. It was also in line with the legacy firm’s decision to focus on developing its landholdings in Nasugbu, Batangas.
Roxas Sigma’s coconut processing facility started commercial operations in 2018 producing all-natural coconut cream and milk, coconut water concentrate, and virgin coconut oil to clients worldwide. It has around 150 regular workers. The facility it sold is also a big buyer of dehusked nuts and helps provide livelihood in South Cotabato.
“We are confident that Century’s plans to upgrade the facility will usher in a new phase of growth and expanded product offerings,” said Antonio Roxas, Roxas Sigma’s business development manager.
With the acquisition, Century Pacific said its coconut operations will employ around 800 workers in Mindanao.
“This acquisition is a milestone for our coconut business and a testament to our commitment to inclusive growth. 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 Noel Tempongko, vice president and general manager of Century Pacific’s OEM Coconut Exports. An OEM or Original Equipment Manufacturer produces raw materials or parts that another company needs.
“The additional capacity will allow us to innovate and serve the market with more high-quality, better-for-you coconut products, supporting our mission to deliver affordable nutrition to our consumers,” Tempongko added.
Century Pacific ventured into the coconut industry in 2012, manufacturing coconut water for OEM exports. It also produces and exports the coconut water brand Aqua Coco. It has since expanded its manufacturing capabilities to include a wider range of products such as Coco Mama Fresh Gata.
In 2020, Century Pacific ventured into the vegan meat alternative with its unMEAT products. Aside from the Philippines, these products are now sold in over 13,000 points of sale in the US, Singapore, China, Middle East, and Europe.
The Century Pacific Group was started in 1978 by Ricardo Po Sr., focused on exporting canned tuna, with famous brands like Century Tuna, 555, and Ligo. It has since grown the business into other food-related businesses, including meat (e.g. Argentina brand), and dairy (e.g. Birch Tree, Angel). – Rappler.com
