MANILA—Century Pacific Food, Inc. (CNPF) is expanding its canned meat portfolio by acquiring Hunt’s license from Gokongwei group.
In a disclosure to the Philippine Stock Exchange (PSE) Tuesday, the company said it will buy the Hunt’s license for the Philippines from Hunt-Universal Robina Corp. (HURC), which is a joint venture of URC and North American firm ConAgra Foods – the owner of Hunt’s trademark globally.
“We are excited about expanding our portfolio with brands and products that resonate with Filipino consumers. Hunt’s is a welcome addition with its local dominance in pork and beans, its emerging presence in condiments, and its potential to be another source of growth for us,” said CNPF’s President and Chief Executive Officer Christopher Po.
But the company has yet to disclose the value of acquisition.
The acquisition will allow CNPF to manufacture, sell, and distribute Hunt’s branded products, not only pork and beans but also tomato-based spaghetti sauce, tomato sauce, and marinade sauce.
CNPF is the country’s largest canned food company with canned meat and fish brands like Century Tuna, Argentina, Swift, and 555, as well as canned milk products like Angel and Birch Tree.