MPIC acquires Franklin Baker Co. of the Philippines

Metro Pacific Investments Corp. (MPIC), through its subsidiary Metro Pacific Coconut Holdings Corp. (MPCH), has successfully acquired Franklin Baker Co. of the Philippines as part of its expansion in the agribusiness sector.

This acquisition is expected to bring renewed operational stability and establish a foundation for sustained long-term growth for Franklin Baker.

MPCH will provide immediate capital and strategic support to address export backlogs and stabilize the operations of the coconut processor.

MPIC chairman and CEO Manuel V. Pangilinan stated that the acquisition strengthens an important segment of the supply chain and will benefit thousands of Filipino farmers and communities through a more efficient and stable industry.

The Metro Pacific Group previously reported a P1 billion deal to buy out Franklin Baker, one of the world's oldest coconut product manufacturers, to prevent its facilities from closing.