Metro Pacific Agro Ventures (MPAV), a wholly-owned subsidiary of Metro Pacific Investments Corp. (MPIC), announced plans on Thursday to acquire the Franklin Baker Group of Companies, which will significantly expand its industry footprint and reinforce its leadership in the country’s food-grade coconut export sector.
Established in 1921, Franklin Baker is one of the Philippines’ most historic coconut processors, operating facilities in Laguna and Davao and exporting a range of value-added coconut products—including desiccated coconut, virgin coconut oil, coconut cream, and coconut water—to over 50 countries. The acquisition provides Franklin Baker with capital and strategic support to address operational challenges and restore growth, while sustaining the livelihoods of over 5,000 workers and 50,000 coconut farmers nationwide.
The acquisition complements MPAV’s existing stake in Axelum Resources Corp., a leading coconut product exporter. Together, Franklin Baker and Axelum will form the core of MPAV’s integrated coconut platform, with the capacity to process more than two million coconuts daily and a dominant share of U.S. coconut exports. The combined platform offers world-class processing capabilities, long-standing international customer relationships, and deep integration with farming communities.
“This is a unique opportunity to scale a globally competitive coconut platform,” said MPIC chairman and CEO Manuel V. Pangilinan. “With Franklin Baker and Axelum, we are strengthening a key export sector while promoting inclusive rural development.”
MPAV president and CEO Jovy Hernandez added, “This transaction is about growth. We are building a coconut powerhouse that combines heritage, scale, and global reach.”
The acquisition supports MPAV’s broader strategy to build a vertically integrated agribusiness portfolio across key sectors, including coconut, dairy (Carmen’s Best, Bukidnon Milk Company), and controlled-environment farming (Metro Pacific Fresh Farms). The company aims to enhance food security, reduce import dependence, and drive sustainable growth across the agricultural value chain.
