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MPIC Buyout of Franklin Baker Pushes Through This Year – MVP
The Philippine Star
|March 25, 2025
Metro Pacific Investments Corp. (MPIC), through Metro Pacific Agro Ventures Inc. (MPAV), is pursuing the group's P1-billion buyout of Franklin Baker Co. this year.
"That will push through. We're already actually using them as our OEM (original equipment manufacturer) because Axelum needs capacity so we asked them to produce products for Axelum. So we're using their capacity already," MPIC chairman, president and CEO Manuel V. Pangilinan said.
The STAR earlier reported about MPAV's plan to acquire 100 percent of Franklin Baker, one of the world's oldest manufacturers of coconut products, for P1 billion to save its facilities from closing down.
This story is from the March 25, 2025 edition of The Philippine Star.
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