Latest news with #ManuelV.Pangilinan
GMA Network
24-07-2025
- Business
- GMA Network
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
GMA Network
27-05-2025
- Business
- GMA Network
MVP considering toll holiday during EDSA rehab
Business tycoon Manuel V. Pangilinan, who leads Metro Pacific Tollways Corp. (MPTC), on Tuesday expressed intent to follow the lead of San Miguel Corp. (SMC) and impose a toll holiday during the rehabilitation of EDSA, the country's busiest highway. According to Pangilinan, MPTC should consider a toll holiday and take the lead from SMC in waiving toll fees in portions of the Skyway Stage 3 while EDSA is being rehabilitated. "I think we also have a connector. Maybe we should do the same thing. I have to talk to our tollways to follow San Miguel's lead," Pangilinan said. He was referring to the NLEX Connector, an 8-kilometer all-elevated highway built along the right of way of the Philippine National Railway (PNR), extending the NLEX from the end of its Harbor Link Segment 10 in C3/5th Avenue, Caloocan City, to Ramon Magsaysay Avenue in Sta. Mesa, Manila. MPTC operates the NLEX, the NLEX Connector, the Subic-Clark-Tarlac Expressway (SCTEX), the Manila-Cavite Toll Expressway (CAVITEX), the Cavite-Laguna Expressway (CALAX), and the Cebu-Cordova Link Expressway (CCLEX). "I think we should," Pangilinan said when asked if he is open to following SMC's lead in waiving toll fees. "I think San Miguel has taken the lead there, and it was a good lead that they've done, and I think we should follow their example to help out in the traffic situation, I guess for the next two years or so," he added. This comes as Transportation Secretary Vivencio "Vince" Dizon said SMC will waive toll fees in select areas of the Skyway Stage 3 where vehicles will be detoured while the EDSA rehabilitation is ongoing, starting July or August. This will be implemented alongside a 24-hour odd-even number coding scheme limited to EDSA, with the dry run expected to start on June 16, and last for a month. The EDSA rehabilitation is projected to last until 2027, with the preparatory works set to begin on the evening of June 13, according to the Department of Public Works and Highways (DPWH). The government is also looking at deploying an additional 100 buses along the EDSA Busway, and additional car train sets on the Metro Rail Transit Line 3 (MRT3) during the period. — VDV, GMA Integrated News
