Leading canned food producer Century Pacific Food Inc. (CNPF) has acquired the license to bring leading shrimp paste Kamayan to the US and Canada, a move seen to boost its international food portfolio.
Through wholly owned subsidiary Century Pacific Seacrest Inc., the group bagged the license to the Kamayan trademark for North America and Canada.
Kamayan is one of the top brands in the U.S market for shrimp paste – a popular condiment in Philippine cuisine, locally known as bagoong.
The brand has grown its presence in the United States since first entering the market in the 1980’s. It is currently being sold in leading Asian food stores across the West and East coast, catering primarily to large Filipino communities there.
“The recent purchase is expected to support the growth of CNPF’s international branded business as it continues to expand in countries where there is a strong overseas Filipino presence,” the company said in a disclosure to the Philippine Stock Exchange on Friday.
CNPF, the Philippines’ largest canned food company, has established market leadership locally for its brands Century Tuna, Argentina Corned Beef, 555 Sardines, and Birch Tree. These same brands have also been gaining traction abroad as the group builds its international presence.
Today, CNPF’s branded products are available in more than 55 countries globally. Flagship Century Tuna is now among the leading brands in China, Vietnam, and the Middle East.
The acquisition of Kamayan is also seen in line with CNPF’s strategy to be a leading player in ambient food products.
Gregory Banzon, Vice President and General Manager for CNPF’s Branded Export group said: “This is an exciting addition to Century Pacific’s growing range of products and brands.”
“We intend to capitalize on our manufacturing and marketing capabilities, plus our developing sales coverage globally, to expand the Kamayan portfolio,” he added.