CNPF buys coconut processing facility for $45 million

Century Pacific Food Inc. (CNPF) is acquiring a coconut processing facility in Tupi, South Cotabato for $45 million through its subsidiary Coco Harvest Inc.

This acquisition aims to expand CNPF's rapidly growing coconut business and enhance its competitiveness in the global coconut industry.

The facility, which stands on a 2.2-hectare property, currently produces coconut cream, milk, virgin coconut oil, and coconut water concentrate.

CNPF plans to upgrade the facility by adding new product lines, expanding its capabilities for domestic and export markets, and improving overall efficiency.

The company stated that this expansion will also create meaningful economic opportunities for local communities in Mindanao.

This new facility will complement CNPF's existing processing hubs in General Santos City and Misamis Occidental.