MANILA, Philippines — Metro Pacific Agro Ventures (MPAV)—a subsidiary of Metro Pacific Investments Corporation (MPIC)—announced on Thursday its anticipated acquisition of the Franklin Baker Group of Companies, marking a major expansion of its agribusiness platform and solidifying its role as one of the leaders in the food-grade coconut export industry.
Franklin Baker, founded in 1921, is a revered coconut processor in the country with manufacturing facilities in Laguna and Davao. It exports a wide array of value-added coconut products such as desiccated coconut, coconut water, virgin coconut oil, and coconut cream, to global food brands in over 50 countries worldwide.
MPAV said the acquisition comes at a crucial time for the Philippine coconut industry as it would provide Franklin Baker with the necessary capital and support to stabilize operations, address export backlogs, and achieve sustainable growth. It would also protect the livelihoods of over 5,000 workers and more than 50,000 coconut farmers nationwide.
