One of the largest food branded companies, Century Pacific Food Inc. (CNPF) finalized the acquisition of LIgo’s manufacturing facilities in Zamboanga.
With the acquisition of Ligo’s assets, Po family-led CNPF will leverage its scale and capability to create more value for the canned sardine brand.
“CNPF foresees synergies in selling and distribution, supply chain, and marketing. Moreover, this acquisition is aligned with the Company’s mission to provide affordable nutrition to its consumers,” the company said in a filing with securities regulators.
According to CNPF, the consideration for the acquisition of Ligo represented less than one percent of its total assets as of March 31.
“The acquisition will effectively increase revenues and earnings of CNPF and allow the company to manufacture Ligo products in Zamboanga.