Metro Pacific Agro Ventures invests in coconut industry through ₱5.3 billion strategic partnership with Axelum Resources Corp.

Manuel V. Pangilinan, Chairman, President, and CEO of MPIC (left) and Mr. Romeo I. Chan, Chairman and Chief Executive Officer of Axelum Resources Corp. (right)

PASIG, Philippines, 19th December 2023 – Metro Pacific Investments Corporation’s (MPIC) wholly-owned subsidiary, Metro Pacific Agro Ventures, Inc. (MPAV), has sealed the deal with Axelum Resources Corp. (PSE: AXLM), the country’s leading fully-integrated manufacturer, exporter, and retailer of globally in-demand food essentials, primarily best-in-class coconut products.

In a transaction valued at ₱5.3 billion, MPAV has secured a 34.76% equity stake in Axelum. Their objective is to enable each other to capitalize on opportunities in the coconut industry, and enhance the capabilities and competitive edge of Philippine coconuts in the global market.

Axelum caters to a top-tier clientele comprised of renowned multinational consumer brands across more than 30 high-growth export markets. They are producers of an extensive range of premium coconut products.

Mr. Romeo I. Chan, Chairman and Chief Executive Officer of Axelum Resources Corp., states, “We proudly welcome the investment of MPAV into Axelum. This partnership is built on a shared vision and profound commitment to spearhead initiatives that will modernize our local coconut industry. We aim to achieve this by leveraging our joint expertise, network and resources.”

Mr. Chan adds, “Most importantly, this will allow us to deepen our societal impact by providing sustainable livelihood to coconut farming communities, and thereby contributing to the continuous development of the country’s agriculture sector.”

“This partnership embodies our commitment to sustainable investments,” said Manuel V. Pangilinan, Chairman, President, and CEO of MPIC. “Axelum’s expertise in the coconut industry, combined with MPAV’s ambition for Philippine agriculture, position us to make lasting contributions to the nation. We look forward to promoting sustainability and competitiveness in the country’s agricultural sector.”

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 About Metro Pacific Investments Corporation (“MPIC”)

MPIC is a leading Philippine company with investments in power, toll roads, water, transportation, healthcare and real estate. 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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Melody del Rosario

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