Manuel V. Pangilinan’s MPAV Bets Big on Coconuts, Acquires Franklin Baker

Metro Pacific Agro Ventures (MPAV), the agribusiness unit of Metro Pacific Investments Corporation (MPIC), has acquired the Franklin Baker Group of Companies, a landmark move that expands its growing food and agriculture portfolio and solidifies its position in the country’s coconut export industry.

MPAV Chairman Manuel V. Pangilinan leads the expansion into coconut exports with the acquisition of legacy brand Franklin Baker, solidifying the Philippines’ global edge. (Photo: MPIC)

Franklin Baker, established in 1921, is one of the most recognized coconut processors in the Philippines.

With production facilities in Laguna and Davao, the company supplies desiccated coconut, virgin coconut oil, coconut water, and coconut cream to more than 50 countries. Its reputation for high-quality, value-added coconut products has earned the trust of global food manufacturers for over a century.

This latest acquisition complements MPAV’s existing investment in Axelum Resources Corporation, a leading exporter of food-grade coconut products based in Misamis Oriental.

Together, the two companies have the combined capacity to process over two million coconuts each day and account for a significant share of U.S. coconut imports.

MPAV’s acquisition of Franklin Baker brings together heritage and innovation, ensuring a more resilient supply chain for Filipino coconut farmers. (Logo/Photo: Franklin Baker)

Their integration is expected to strengthen the reliability of the Philippines as a global supplier of coconut-based ingredients.

MPIC Chairman and CEO Manuel V. Pangilinan described the acquisition as a strategic step toward building a globally competitive coconut platform that is proudly rooted in Filipino agriculture.

“The coconut is one of the Philippines’ most iconic crops. With Franklin Baker and Axelum in our portfolio, we can bring together world-class production, enduring international partnerships, and meaningful support for farming communities,” Pangilinan said.

The deal comes at a pivotal time. The Philippine coconut sector generates approximately $2.2 billion annually in exports and supports more than 2.8 million farmers.

However, the industry has struggled with global market pressures, inconsistent investment, and infrastructure gaps.

MPAV aims to address these issues by injecting capital into Franklin Baker, streamlining operations, and ensuring long-term growth that protects jobs and farmer incomes.

Jovy Hernandez, President and CEO of MPAV, said the combined expertise of Franklin Baker and Axelum provides the scale, resilience, and global reach needed to compete in today’s dynamic food markets.

“This is a growth story,” Hernandez noted. “Our goal is to enhance the entire value chain, from the farmgate to the global shelf.”

Beyond coconuts, MPAV is building a broader agribusiness ecosystem that includes dairy production through Carmen’s Best and Bukidnon Milk Company, and climate-controlled vegetable farming via Metro Pacific Fresh Farms.

The company’s model integrates capital, infrastructure, technology, and market access to unlock value across agriculture and reduce dependence on imported food.

MPAV’s vision also aligns with the country’s push for inclusive rural development and food security.

By modernizing supply chains, supporting smallholder farmers, and investing in world-class processing capabilities, MPAV is positioning the Philippines as a leader in sustainable and export-ready agribusiness.

With Franklin Baker now under its wing, MPAV is poised to elevate the country’s standing in the global coconut market while contributing to a more resilient and inclusive food system at home.