Century Pacific investing P2.6B for coconut processing venture in South Cotabato

Century Pacific Food, Inc. acquires Roxas Sigma Agriventures, Inc., which operates a modern integrated coconut processing plant in a two-hectare facility in Tupi, South Cotabato. CNPF photo

KORONADAL CITY (MindaNews / 1 November) – Century Pacific Food, Inc. (CNPF), a leading Philippine multinational food company, is investing P2.6 billion for a coconut processing venture in South Cotabato.

The publicly-listed firm has acquired Roxas Sigma Agriventures, Inc. through wholly-owned subsidiary Coco Harvest, Inc.

Roxas Sigma, a joint venture between Roxas & Company, Inc. and Sigma Xynergies Corporation, has been operating a modern integrated coconut processing plant in a two-hectare facility in Tupi town since 2017.

The acquisition of Roxas Sigma brings to three Century Pacific’s coconut processing hubs in the country – all located in Mindanao with the first in General Santos City and then in Misamis Occidental.

Approximately $45 million or P2.6 billion will be invested to acquire and upgrade the facility of Roxas Sigma, CNPF said in a statement.

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.

The investment will be funded via the company’s internally-generated cash flows.

Noel Tempongko, Jr., vice president and general manager of CNPF’s OEM Coconut Exports, said the 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,” he said.

“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,” he added.

South Cotabato Governor Reynaldo Tamayo Jr. welcomed CNPF’s investment in the province, which hosts several agribusiness companies involved in pineapple and banana production, among others.

He said that CNPF’s operation in South Cotabato will further boost the agro-industrial edge of the province.

“(This) development strengthens investor confidence in the province and reinforces South Cotabato’s growing reputation as a prime business and agro-industrial hub in Mindanao,” a statement from the provincial government said.

The venture is expected to support some 800 jobs, it added.

Last Thursday, CNPF officials paid a courtesy call to the provincial government.

CNPF produces popular food products such Century Tuna, Blue Bay Tuna, 555 Sardines, Ligo Sardines and Argentina Corned Beef, and coconut-based Coco Mama and Vita Coco. (Bong S. Sarmiento / MindaNews)