Century Pacific Food Inc. (CNPF) signed a $50-million (P2.4 billion) agreement with Malaysia’s Linaco Group, expanding a successful partnership that was first sealed two years ago.“After more than two years of working together, both companies agreed to increase volume commitments and expand the range of products that CNPF will produce to serve Linaco’s growing requirements,” Century Pacific said.Linaco’s high-value coconut products are available in 40 countries.
The partnership started with CNPF signing on as original equipment manufacturer of Linaco’s coconut milk brands.
“Our growing presence in the global coconut market—both as an OEM (original equipment manufacturer) export manufacturer and domestic branded player—is in line with our long-term vision of building a healthier and more diversified suite of shelf-stable food and beverage products,” CNPF executive chair Christopher Po said in a statement.CNPF is investing another P300 million to augment its coconut manufacturing capacity.This will address the growing demand for high-value coconut products internationally.CNPF entered the coconut business initially as an integrated manufacturer of high-value coconut products for OEM exports. Its entry into the category began with an ongoing long-term contract with Vita Coco, the world’s leading coconut water brand.CNPF is one of the largest suppliers of Vita Coco globally. It has since diversified into other high-value coconut categories such as desiccated coconut, virgin coconut oil, coconut flour and coconut milk. —Miguel R. Camus INQ