Century Pacific ventures into beverage sector
Newly listed food manufacturer Century Pacific Food Inc. (CNPF) has debuted in the beverage business as part of a strategy to diversify its product portfolio, beginning with the introduction of American coconut juice brand Vita Coco into the local market.
CNPF teamed up with leading American coconut juice firm Vita Coco to produce the coconut juice brand at its General Santos facility and exclusively distribute the product—which is backed by Hollywood celebrities like Madonna—in the local market.
The local group has begun packing Vita Coco for the overseas market at its General Santos facility and would now begin exclusively distributing the brand in the local market, CNPF chair Ricardo Po Sr. said in a recent interview.
The coconut manufacturing facility supported local coconut farmers, CNPF president Christopher Po said, estimating that this venture would source on a daily basis 100,000 to 150,000 coconuts worth P1 million to P1.5 million from local farmers.
“We are all excited to announce the arrival of Vita Coco, the leading coconut water brand, here in the Philippines. It is a privilege to have been chosen by Vita Coco to distribute this all-natural drink. Filipinos can enjoy the purest coconut water anytime, anywhere—no need to crack a coconut. It is freshly sealed and packed with no shortage of benefits,” the younger Po said.
At present, Vita Coco already sources 23 percent of its total coconut supply for global production from the Philippines and the volume is growing every year.
Po said CBPF was using only 30 percent of its coconut-packaging facility to date but noted that this was expected to rise rapidly as Vita Coco has been rolled out in the local market. Current production is estimated at 25 million packs a year.
Suggested retail price for a 330-ml pack of Vita Coco is P35. Vita Coco will initially offer to the local market the pure unflavored coconut water in tetra pack with a resealable cap. Each pack has a shelf life of 12 months even as only minimal processing is undertaken before packaging.
The group is upbeat on bringing Vita Coco to the Philippines especially as fresh coconut water—the electrolyte-rich and low-calorie liquid from younger coconuts—is becoming the beverage of choice among health-conscious consumers, athletes and even celebrities.
Aside from Madonna, who had actually put in equity in this coconut juice brand in 2010, other celebrities who had invested in the brand are Matthew McConaughey, Demi Moore and Anthony Kiedis.
Other celebrities who are known Vita Coco fans are Halle Berry, Kevin Bacon, Kerry Washington, Sarah Jessica Parker, Emma Stone, Jay-Z, Beyonce, Rihanna and Lenny Kravitz. Other supporters are top models Heidi Klum and Victoria Secret model Karolina Kurkova and fashion entrepreneur Jessica Simpson.
Vita Coco was founded by long-time friends Michael Kirban and Ira Liran who hatched the idea of creating a coconut water beverage brand when they met Brazilian women in New York. It was the first brand in the US to market fresh coconut water in tetra pak starting in 2004 and has since then grabbed a 60-percent market share.
Founder Kirban said: “From selectively picking young coconuts up to immediately sealing it in tetra paks, we make sure that we produce the purest and most healthy coconut waters. We’re excited to offer that to Filipinos,” Kirban said.
Aside from flagship Century Tuna, CNPF produces canned food under the brands 555 for sardines and tuna, Argentina and Swift for canned meats and Angel and Birch Tree for canned and powdered milk.
