MPIC unit completes Franklin Baker acquisition to support coconut operations

METRO PACIFIC Coconut Holdings Corp. (MPCH), a subsidiary of Metro Pacific Investments Corp. (MPIC), said it has completed its acquisition of Franklin Baker Co., a move expected to help clear export backlogs and support operations.

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In a statement, MPIC said the investment will allow Franklin Baker to return to normal production levels and prepare the company for long-term growth.

"This acquisition supports key industries such as coconut processing. By bringing Franklin Baker into our portfolio, we are strengthening an important segment of the supply chain and helping ensure that thousands of Filipino farmers and communities benefit from a more efficient and stable industry," MPIC Chairman and Chief Executive Officer (CEO) Manuel V. Pangilinan said.