24-07-2025
Metro Pacific agribiz unit acquires coconut processor Franklin Baker
Pangilinan-led Metro Pacific Investments Corp. (MPIC), through its wholly owned subsidiary Metro Pacific Agro Ventures (MPAV), is acquiring 103-year-old coconut products maker Franklin Baker Group of Companies.
In a news release on Thursday, MPIC announced MPAV had entered into agreements to acquire Franklin Baker, marking its agribusiness unit's 'major expansion' and reinforcing its position as the leading player in the Philippines' food-grade coconut export industry.
Franklin Baker, founded in 1921, is one of the Philippines' most established coconut processors, with manufacturing facilities in Laguna and Davao.
It supplies a broad range of value-added coconut products—including desiccated coconut, coconut water, virgin coconut oil, and coconut cream—to over 50 countries.
According to MPIC, the transaction will provide Franklin Baker with the capital and strategic support needed to stabilize its operations, clear pending export backlogs, return to a path of sustainable growth, safeguard the livelihoods of over 5,000 workers, and maintain a reliable market for more than 50,000 coconut farmers across the country.
The Pangilinan-led conglomerate said 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.
'Coconut is one of the Philippines' most important and iconic crops—something we should be proud of. 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,' said Manuel V. Pangilinan, chairman and CEO of MPIC.
MPIC said MPAV's agribusiness 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. —VBL, GMA Integrated News
