Metro Pacific Agro Ventures Acquires Franklin Baker, Strengthens Leadership in Philippine Coconut Exports

July 2025, Manila, Philippines – Metro Pacific Agro Ventures (MPAV), a wholly-owned subsidiary of leading infrastructure firm Metro Pacific Investments Corporation (MPIC), announced today its anticipated entry into agreements to acquire the Franklin Baker Group of Companies (Franklin Baker). The transaction marks a major expansion of MPAV’s agribusiness platform and reinforces its position as the leading player in the Philippines’ food-grade coconut export industry.

Founded in 1921, Franklin Baker is one of the Philippines’ most established coconut processors, with manufacturing facilities in Laguna and Davao. The company supplies a broad range of value-added coconut products – including desiccated coconut, coconut water, virgin coconut oil, and coconut cream – to over 50 countries, serving long-standing relationships with global food brands.

MPAV’s investment comes at a pivotal moment for the coconut industry—a sector that supports millions of Filipinos but continues to face headwinds from global market volatility and limited investment in value-added processing. The transaction will provide Franklin Baker with the capital and strategic support needed to stabilize its operations, clear pending export backlogs, and return to a path of sustainable growth. Just as importantly, it will help safeguard the livelihoods of over 5,000 workers and maintain a reliable market for more than 50,000 coconut farmers across the country.

The acquisition builds on MPAV’s earlier investment in Axelum Resources Corporation, a leading exporter of food-grade coconut products known for its ability to meet the highest global standards for food safety, traceability, and quality assurance. Based in Medina, Misamis Oriental, Axelum has become a model of inclusive rural development – driving employment, supporting healthcare access, and building strong farmer partnerships. Since MPAV’s entry in 2023, Axelum has expanded its production capabilities and global distribution network, reinforcing its position as a key supplier to top-tier international food and beverage companies.

Together, Franklin Baker and Axelum have the capacity to process over two million coconuts daily and account for a substantial share of U.S. coconut export. Both businesses maintain long-standing relationships with international customers and a strong track record of meeting evolving global standards for food safety, sustainability, and ethical sourcing. Both companies have long-standing relationships with global customers and a strong track record of producing high-quality, value-added coconut products. Franklin Baker brings the strength of a heritage brand built over more than a century, while Axelum contributes deep operational capability and a proven model of community-based agribusiness development. Combined, they form the backbone of MPAV’s coconut platform – delivering industry-leading scale, export reach, and supply chain resilience to position the Philippines for long-term leadership in the global coconut industry.

“The coconut is one of the Philippines’ most important and iconic crops – something we should be proud of,” said Manuel V. Pangilinan, Chairman and CEO of MPIC. “With Franklin Baker and Axelum, we now have the opportunity to scale a globally competitive coconut platform – one that brings together world-class processing, long-standing customer relationships, and strong ties to our farming communities. This is a unique opportunity to strengthen a flagship export sector and help make Filipino agricultural products a global standard.”

“This transaction is about growth,” said Jovy Hernandez, President and CEO of MPAV. “With Franklin Baker joining Axelum in our portfolio, we are building a coconut powerhouse that combines heritage, scale, and global reach. Our goal is to strengthen the entire value chain – from farmer to processor to export markets – while cementing the Philippines’ leadership in the global coconut industry.”

The acquisition forms part of MPAV’s broader strategy to build a resilient, vertically integrated agribusiness portfolio focused on food security, export competitiveness, and inclusive rural development. MPAV’s growing platform includes investments in coconut through Franklin Baker and Axelum; dairy through Carmen’s Best and Bukidnon Milk Company; and fruit/vegetable production through Metro Pacific Fresh Farms, the Philippines’ largest climate-controlled greenhouse facility. 

MPAV’s model brings together infrastructure, capital, technology, and market access to unlock long-term value across the agricultural supply chain. Through its investments, MPAV aims to reduce reliance on imported food, improve farmer incomes, and promote sustainable agricultural practices. These efforts are aligned with the national agenda for food resilience and inclusive economic development—and with the vision of building a truly modern, world-class Philippine agriculture sector.

About MPIC

Metro Pacific Investments Corporation is a leading Philippine company with investments in power, toll roads, water, transportation, healthcare, real estate, and agribusiness. 

The Company seeks to create long-term value for all its stakeholders through responsible and sustainable investments that contribute to national progress and improve the quality of life in the communities it serves.

MPIC and its group of companies are making a difference in the lives of millions of Filipinos, powering commerce and households, connecting people and places, delivering clean and safe water, and making world-class healthcare available to all.

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