Its agribusiness arm is acquiring the 103-year-old Franklin Baker Group of Companies and pairing it with Axelum Resources Corp., which it joined in 2023, to cement the country’s grip on the $6 billion global food-grade coconut trade.
Management's view
“The coconut is one of the Philippines’ most important and iconic crops – something we should be proud of,” Pangilinan, the chair and CEO of Metro Pacific, said in a statement on Thursday.
“With Franklin Baker and Axelum, we now have the opportunity to scale a globally competitive coconut platform – one that brings together world-class processing, long-standing customer relationships, and strong ties to our farming communities,” he added.
Franklin Baker, founded in 1921, is one of the country’s most iconic processors, supplying desiccated coconut, coconut oil, water, and cream to more than 50 countries.
Heritage brand
The acquisition gives the heritage brand fresh capital to stabilize operations, clear export backlogs, and protect the livelihoods of over 5,000 workers and 50,000 coconut farmers nationwide.
Axelum, based in Misamis Oriental, has already scaled up production and global distribution under MPIC, supplying top food and beverage brands while driving jobs, healthcare access, and farmer partnerships in rural communities.
The firms are now part of Metro Pacific, one of the country’s leading infrastructure firms with assets spanning electricity distraction, toll roads, water services, and hospitals.
—Edited by Miguel R. Camus
