CENTURY PACIFIC ACQUIRES ‘LIGO’,
A LEADING BRAND IN THE SARDINE CATEGORY
By Jenifer Mae Tecson-San Juan, Investor Relations Manager
Investor Relations
On December 24, 2021, Century Pacific Food, Inc. (CPFI) announced the acquisition of ‘Ligo’, a legacy brand known for its range of high quality sardines and other marine products.
Under the deal, CPFI will purchase assets and intellectual property related to the manufacturing of ‘Ligo’s’ product lineup, which is composed of shelf-stable marine products.
Our Executive Chairman, Christopher Po, said, “Ligo is a leading brand in the sardine category. It is highly synergistic with the rest of our shelf stable marine products. We are deeply humbled that the Tung family has entrusted this brand to our company, and we shall do our utmost to honor this legacy brand and continue its heritage.”
Shelf-stable sardines are among the top consumer staple products in the Philippines. The category is one of the most accessible protein and calcium sources for Filipino consumers, an essential product that supports food security in the country.
Po continued, “This will be an accretive, bolt on acquisition. We foresee synergies in selling and distribution, supply chain, and marketing. Moreover, this acquisition is very much aligned with our mission to provide affordable nutrition to our consumers. Our company has a long-standing business in the Sardine category. We will be leveraging our scale and experience to create more value for the brand, which will in turn strengthen our core business.”
‘Ligo’ is one of the top shelf-stable sardine brands in the Philippines with a heritage of over 60 years. It is a market leader in key regions in the country.
Recently, CPFI has been diligently building up its portfolio. Early in 2021, the Company announced the acquisition of Pacific Meat Company, Inc., an emerging player in the refrigerated food category. The Company also entered developing and fast-growing categories such as plant-based alternatives and pet food through new brands, ‘unMEAT’ and ‘Goodest’, respectively. CPFI recently announced the expansion of its dairy business as well, launching a new brand ‘Choco Hero’ to compete in the choco malt segment.
About CNPF
Century Pacific Food, Inc. (PSE: CNPF) is one of the Philippines' largest branded food and beverage companies. It is primarily engaged in the manufacturing, marketing, and distribution of processed marine, meat, milk, and coconut products. With an established track record in brand-building spanning more than 40 years, it has developed a roster of household names which include Century Tuna, Argentina, 555, Angel, and Birch Tree. These brands of the Company hold market leading positions locally and are growing their presence abroad. Further, the Company also operates as one of the Philippines' leading providers of private label tuna and coconut products for export overseas.