In a statement on Thursday, the maker of Century canned tuna and Argentina corned beef said it purchased 100 percent of Coco Harvest Inc., which was built in 2016.
The facility covers six hectares and is fully integrated to produce high-value coconut products, including coconut water, coconut milk, desiccated coconut, and virgin coconut oil. Its strategic location allows it to tap into the abundant coconut supply in the region.
Management’s view
“This deal is an accretive acquisition. More importantly, it marks a significant milestone for the company. Our coconut business, encompassing both domestic and export, has grown substantially these past few years on the back of burgeoning trends in health and wellness,” said Teodoro “Ted” Po, the president and CEO of CNPF.
“The additional capacity from Coco Harvest will bolster our capability to serve rising demand, with room for expansion as the business grows,” he added.
Ramping up coconut investments
CNPF’s total investment in the facility, including planned upgrades, will reach about $40 million (P2.2 billion), funded through the company’s internally generated cash flow. The expansion is set to create over 1,500 manufacturing jobs in Mindanao, support auxiliary services, and provide market access for local coconut farmers.
Vita Coco partnership
Having entered the coconut sector in 2012, CNPF has steadily grown its export business, manufacturing coconut products for Southeast Asian markets, including Linaco Manufacturing, and establishing a domestic branded coconut line.
In 2024, CNPF signed a long-term agreement with The Vita Coco Co., committing to supply 90 million liters over five years.
