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  • Writer's pictureBy The Financial District

MPIC Fortifies Agri Investments, Acquires Axelum Resources Corp.

Metro Pacific Investments Corporation (“MPIC”), the country’s leading infrastructure investments company, branches into another agri venture, with its wholly owned subsidiary, Metro Pacific Agro Ventures Inc. (MPAV), acquiring 34.76% ownership in Axelum Resources Corporation (“ARC” or the “Company”) for PHP5.32 billion.

Photo Insert: MPIC Chairman, President, and CEO Manuel V. Pangilinan and ARC Chairman and CEO Romeo I. Chan seal the deal with a handshake.

ARC is the leading manufacturer and exporter globally of high-quality coconut products, and one of the major suppliers of Vita Coco, the global market leader in coconut water. The company is also a major exporter of desiccated coconut, coconut milk/cream, coconut cooking oil, and other coconut products.

The acquisition buttresses MPIC’s promise in becoming a serious player in the agricultural field, following its investment in the dairy sector last year.

“The north star of our agriculture business is helping our country achieve food security,” says MPIC Chairman, President, and CEO Manuel V. Pangilinan. “This investment into ARC will mean more income opportunities for coconut farmers, as well as a broader landscape for Philippine agriculture.”

Capitalizing on the Coconut Industry

With its global presence, ARC’s products are sold in both the domestic and international markets, supplying to food and beverage companies, confectioneries, bakeries, supermarkets and grocery store chains, and other establishments around the world. They are widely distributed in the United States, Canada, Australia, New Zealand, Eastern Europe, Middle East, Japan, and some countries in Asia.

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ARC Chairman and CEO Romeo I. Chan states, “Through this partnership, we aim to achieve our life-long vision of further developing and transforming the Philippine coconut industry. We proudly welcome our new partners, MPAV and the entire MPIC organization, and we thank them for sharing the same values and ambition to advance the coconut industry by synergizing our resources and expertise.”

“More importantly, this puts us in a strong position to help uplift the marginalized coconut farming communities in our country and contribute to the continuous development of the agricultural sector,” Chan added.

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

Augmenting ARC’s focus on export, MPAV aims to nurture a higher level of patronage of these products by local consumers.

“The Philippines enjoys global renown for its coconut products. Axelum has had an impressive history—having helped establish the country as the world’s leading producer of high-quality coconut products.” says MPAV President and CEO Jovy Hernandez. “We at MPAV are eager to work with Axelum not only to strengthen their international business but also to develop the domestic market and support our local coconut farmers.”

Entrepreneurship: Business woman smiling, working and reading from mobile phone In front of laptop in the financial district.

MPIC, through MPAV, continues to look for other opportunities in the agricultural sector, while aiming to achieve a wider presence in the dairy industry.

This venture in agribusiness affirms MPIC’s resolve to be the largest catalyst for a Sustainable Philippines to achieve food security and ultimately food independence. It is also aligned with the efforts of both MPIC and ARC to contribute to the United Nations Sustainable Development Goals (UN SDGs), particularly Goal 2: End hunger, achieve food security, improve nutrition, and promote sustainable agriculture.

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