Century Pacific Food Inc., the company behind Century Tuna brand, has announced the acquisition of 100% stake in Coco Harvest Inc., which owns a coconut processing facility in Tangub City, Misamis Occidental. In a disclosure to the Philippine Stock Exchange on Thursday, Century Pacific stated that it is allotting approximately $40 million for the acquisition and further investments in improvements on Coco Harvest’s facility. The capacity expansion is expected to create more than 1,500 quality manufacturing jobs in Mindanao.
Built in 2016, the fully integrated facility of Coco Harvest sits on a 6-hectare property and has the capability to produce higher value coconut-based products such as coconut water, coconut milk, desiccated coconut, and virgin coconut oil. Furthermore, the existing facility is strategically located to capitalize on the abundance of coconut supply in the region.
Here’s the exact location of the facility situated in Barangay Sta. Maria, Tangub City.
Here’s an aerial photo of the plant.
Read the press release below (screenshot from PSE).
Read previous post below.
