Coco exports strengthened

Manuel V. Pangilinan-led Metro Pacific Agro Ventures (MPAV) is solidifying its dominance in the domestic food-grade coconut export industry with the acquisition of the Franklin Baker Group of Companies, hot on the heels of its recent stake in Axelum Resources Corp.

- By JAMES A. LOYOLA

In a statement, MPAV said it anticipates entering into agreements for the acquisition of Franklin Baker, which was founded in 1921 and is one of the Philippines’ most established coconut processors, with manufacturing facilities in Laguna and Davao.

“The coconut is one of the Philippines’ most important and iconic crops—something we should be proud of,” said Pangilinan, chairman and chief executive company (CEO) of MPAV’s parent company Metro Pacific Investments Corp. (MPIC).

He added that, “With Franklin Baker and Axelum, we now have the opportunity to scale a globally competitive coconut platform—one that brings together world-class processing, longstanding customer relationships, and strong ties to our farming communities.