MPIC Fortifies Agri Investments
Acquires 34.76% of Axelum Resources Corporation
Metro Manila, Philippines, 7th February 2023 – Metro Pacific Investments Corporation (“MPIC”), the country’s leading infrastructure investments company, branches into another agri venture, with its wholly owned subsidiary, Metro Pacific Agro Ventures Inc. (MPAV), acquiring 34.76% ownership in Axelum Resources Corporation (“ARC” or the “Company”) for PHP5.32 billion.
ARC is the leading manufacturer and exporter globally of high-quality coconut products, and one of the major suppliers of Vita Coco, the global market leader in coconut water. The company is also a major exporter of desiccated coconut, coconut milk/cream, coconut cooking oil, and other coconut products.
The acquisition buttresses MPIC’s promise in becoming a serious player in the agricultural field, following its investment in the dairy sector last year.
“The north star of our agriculture business is helping our country achieve food security,” says MPIC Chairman, President, and CEO Manuel V. Pangilinan. “This investment into ARC will mean more income opportunities for coconut farmers, as well as a broader landscape for Philippine agriculture.”
Capitalizing on the Coconut Industry
With its global presence, ARC’s products are sold in both the domestic and international markets, supplying to food and beverage companies, confectioneries, bakeries, supermarkets and grocery store chains, and other establishments around the world. They are widely distributed in the United States, Canada, Australia, New Zealand, Eastern Europe, Middle East, Japan, and some countries in Asia.
ARC Chairman and CEO Romeo I. Chan states, “Through this partnership, we aim to achieve our life-long vision of further developing and transforming the Philippine coconut industry. We proudly welcome our new partners, MPAV and the entire MPIC organization, and we thank them for sharing the same values and ambition to advance the coconut industry by synergizing our resources and expertise.”
“More importantly, this puts us in a strong position to help uplift the marginalized coconut farming communities in our country and contribute to the continuous development of the agricultural sector,” Chan added.
Augmenting ARC’s focus on export, MPAV aims to nurture a higher level of patronage of these products by local consumers.
“The Philippines enjoys global renown for its coconut products. Axelum has had an impressive history—having helped establish the country as the world’s leading producer of high-quality coconut products.” says MPAV President and CEO Jovy Hernandez. “We at MPAV are eager to work with Axelum not only to strengthen their international business but also to develop the domestic market and support our local coconut farmers.”
MPIC, through MPAV, continues to look for other opportunities in the agricultural sector, while aiming to achieve a wider presence in the dairy industry.
This venture in agribusiness affirms MPIC’s resolve to be the largest catalyst for a Sustainable Philippines to achieve food security and ultimately food independence. It is also aligned with the efforts of both MPIC and ARC to contribute to the United Nations Sustainable Development Goals (UN SDGs), particularly Goal 2: End hunger, achieve food security, improve nutrition and promote sustainable agriculture.
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.
For further information, please contact:
Metro Pacific Investments Corporation
Melody M. Del Rosario
President & CEO, Metro Pacific Agro Ventures Inc.
Vice President, Public Relations and Corporate Communications
+632 888 0888
9th Floor, Tower 1
Rockwell Business Center
Brgy. Ugong, Pasig City 1604
© 2019 Metro Pacific Investments Corporation