MPAV Acquires PH Major Coconut Desiccator Franklin Baker

Metro Pacific Agro Ventures, Inc. (MPAV), a unit of the Pangilinan-led Metro Pacific Investments Corp. (MPIC), said in an e-mailed statement on Thursday, June 24, that it had signed agreements for the acquisition of Franklin Baker Co. of the Philippines, a pioneer in desiccated coconut manufacturing in the country founded in 1921.  Currently its manufacturing facilities are in Laguna and Davao, supplying a broad range of value-added coconut products such as desiccated coconut, coconut water, virgin coconut oil, and coconut cream to over 50 countries.
The acquisition marks a major expansion of MPAV ‘s agribusiness platform and reinforces position as the leading player in the Philippines’ food-grade coconut export industry, the company said.  The acquisition builds on MPAV’s earlier investment in Axelum Resources Corp., also a leading exporter of food-grade coconut products known for its ability to meet the highest global standards for food safety, traceability, and quality assurance.
Together, Franklin Baker and Axelum have the capacity to process over two million coconuts daily and account for a substantial share of US coconut export. Both businesses maintain long-standing relationships with international customers and a strong track record of meeting evolving global standards for food safety, sustainability, and ethical sourcing.