Conglomerate Metro Pacific Investments Corp., or MPIC, wholly-owned unit Metro Pacific Agro Ventures Inc., has sealed a deal with Axelum Resources Corp., the country's leading fully-integrated manufacturer, exporter and retailer of food essentials, primarily best-in-class coconut products.

In a transaction valued at P5.3 billion, MPAV has secured a 34.76 percent equity stake in Axelum.

Their objective is to enable each other to capitalize on opportunities in the coconut industry, and enhance the capabilities and competitive edge of Philippine coconuts in the global market.

Axelum caters to a top-tier clientele comprised of renowned multinational consumer brands across more than 30 high-growth export markets. They are producers of an extensive range of premium coconut products.

Investment welcome

Romeo Chan, chairperson and CEO of Axelum Resources Corp., states, "We proudly welcome the investment of MPAV into Axelum. This partnership is built on a shared vision and profound commitment to spearhead initiatives that will modernize our local coconut industry. We aim to achieve this by leveraging our joint expertise, network and resources."

"Most importantly, this will allow us to deepen our societal impact by providing sustainable livelihood to coconut farming communities, and thereby contributing to the continuous development of the country's agriculture sector."

"This partnership embodies our commitment to sustainable investments," said Manuel V. Pangilinan, chairman, president and CEO of MPIC. "Axelum's expertise in the coconut industry, combined with MPAV's ambition for Philippine agriculture, position us to make lasting contributions to the nation. We look forward to promoting sustainability and competitiveness in the country's agricultural sector."