LISTED food and beverage manufacturer Century Pacific Food, Inc. (CNPF) is expanding its coconut processing capacity with a $45-million (around P2.6 billion) investment to acquire and upgrade a fully integrated facility in Tupi, South Cotabato, from Roxas Sigma Agriventures, Inc. (RSAI) through its subsidiary Coco Harvest, Inc. (CHI).
In a statement on Thursday, the company said the transaction marks its third coconut processing facility in the Philippines, following its existing plants in General Santos and Misamis Occidental, the latter acquired in 2024.
It said the investment will be funded through internally generated cash flows.
The plant produces high-value coconut products such as coconut cream, coconut milk, virgin coconut oil, and coconut water concentrate.
Planned upgrades, the company said, will expand its capabilities to serve both domestic and export markets, add new product lines, and improve overall efficiency.
CNPF also said the acquisition is expected 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 capacity in coconuts, we enhance our competitiveness in the global 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 range of coconut-based products for domestic and overseas markets.
It also partners with regional players such as Linaco Manufacturing in Southeast Asia.
In 2019, the company launched its own branded coconut line in the local market. It recently renewed a five-year supply contract with The Vita Coco Company, Inc., valued at about P14 billion, which will take effect in January 2026.
In a separate disclosure, Roxas and Company, Inc. (RCI) said its subsidiary RSAI sold the 2.2-hectare integrated processing facility to reduce debt and focus on the development of its landholdings in Nasugbu, Batangas.
“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 T. Roxas said.
On Thursday, CNPF rose by P1.25 or 3.42% to close at P37.75 apiece, while RCI slipped by one centavo or 0.36% to P2.79 each. — Alexandria Grace C. Magno
