Century Pacific Food Inc. (CNPF) earmarked P4 billion to P5 billion in capital expenditures for 2025 to expand its core branded food business as it expects to sustain a double-digit growth over the next three to five years.
CNPF executive chairman Christopher Po said in a news briefing following the company’s annual stockholders meeting the capex would support strong of branded food business including marine, meat and milks as well as emerging categories coconut and pet food.
Po said the company is looking to further expand the capacity of its coconut business after securing a new P14-billion contract with Vita Coco.
CPNF announced last year a $40-million investment to acquire and expand a coconut processing facility Misamis Occidental province.
“On top of that, we do plan to invest further for capacity expansion because we do see strong growth in the coconut business for export and domestic,” Po said.
Po said the company is also looking to invest in new projects as well as some acquisitions.
“We are seeing good opportunities to invest our shareholders’ capital in capital projects. We shall be proposing such to our board both this morning and in subsequent board meetings,” he said.
Meanwhile CNPF president and chief executive Teodoro Alexander Po said the company’s pet food business continued to perform well, with growing market share in both wet cat and dog food.
“Our pet food segment is growing despite economic challenges. We are investing more in the brand and learning quickly as the market evolves,” a spokesperson said.
The group is also looking to invest in its milk business which has been growing at double-digit rates.
