MPIC unit completes acquisition of Franklin Baker

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December 4, 2025 | 12:00am

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC), through subsidiary Metro Pacific Coconut Holdings Corp. (MPCH), has wrapped up its acquisition of Franklin Baker Co. of the Philippines as part of its agribusiness expansion.

With the completion of the transaction, MPIC said that Franklin Baker is positioned for renewed operational stability and sets the foundation for sustained long-term growth.

The deal also provides Franklin Baker with the resources to re-establish standard production performance, streamline operations and transition toward a clear growth trajectory.

MPCH is providing immediate capital and strategic support to clear pending export backlogs and stabilize the operations of one of the country’s most established coconut processors.

“In our drive to build a stronger agricultural sector, this acquisition supports key industries such as coconut processing. By bringing Franklin Baker into our portfolio, we are strengthening an important segment of the supply chain and helping ensure that thousands of Filipino farmers and communities benefit from a more efficient and stable industry,” MPIC chairman and CEO Manuel V. Pangilinan said.

The STAR first reported that the Metro Pacific Group will buy out Franklin Baker, one of the world’s oldest manufacturers of coconut products, for P1 billion to save its facilities from closing down.

Metro Pacific Agro Ventures president and CEO Jovy Hernandez said that integrating Franklin Baker into MPIC’s agribusiness arm allows the group to accelerate its goal of creating a truly globally competitive Philippine coconut sector.

“With renewed capital and operational support, we will focus on enhancing efficiencies, reinforcing sustainability initiatives and leveraging our combined scale and support local coconut farmers,” Hernandez said.

MPIC said  the combined operations of Franklin Baker and its earlier acquisition of Axelum now form the backbone of its coconut platform.

It said the two entities, with a capacity to process more than two million coconuts daily, collectively represent nearly 70 percent of the country’s food-grade coconut exports.

This significantly enhances the Philippines’ position in the global market through scale, reach and supply chain resilience, according to MPIC.

“Andorra Investments Corp. is delighted to welcome Metro Pacific Coconut Holdings Corp. as the new investor in Franklin Baker, a move we believe will significantly enhance the future of Franklin Baker and the Philippine coconut industry,” Jerry Lorenzo, president and CEO of Andorra Investments, Franklin Baker’s outgoing investor, said.

To improve farmer livelihoods, promote sustainable agricultural practices and contribute to the country’s food security, MPCH seeks to unlock long-term value across the agricultural supply chain through investments that integrate infrastructure, capital, technology and market access.

MPIC said that under MPCH’s stewardship, Franklin Baker is poised to reinforce its market leadership and sustainability focus, supported by renewed capital and innovation for the sustained growth of the Philippine coconut sector.