Metro Pacific Coconut Holdings Corporation (MPCH), a subsidiary of Metro Pacific Investments Corp. (MPIC), has injected capital to resolve export backlogs, stabilize operations, and support the growth of its newly acquired Franklin Baker Company of the Philippines.

The company said Wednesday that the investment followed its complete entry into the coconut processor, which is expected to accelerate its agribusiness expansion and strengthen its foothold in the global coconut market.

Jovy Hernandez, President and CEO of Metro Pacific Agro Ventures (MPAV), MPIC’s agribusiness arm, said bringing Franklin Baker into the MPAV group will fast-track the company’s efforts to make the local coconut sector more globally competitive.

“With renewed capital and operational support, we will focus on enhancing efficiencies, reinforcing sustainability initiatives, and leveraging our combined scale to support local coconut farmers,” Hernandez said.

MPIC Chairman and CEO Manuel V. Pangilinan added: “By bringing Franklin Baker into our portfolio, we are strengthening an important segment of the supply chain and helping ensure that thousands of Filipino farmers and communities benefit from a more efficient and stable industry.”

With Franklin Baker and MPCH’s earlier acquisition of Axelum, the company now processes over two million coconuts daily, accounting for nearly 70 percent of the country’s food-grade coconut exports.

Jerry Lorenzo, President and CEO of Franklin Baker’s outgoing investor, Andorra Investments Corporation, welcomed the deal, saying: “Andorra Investments Corp. is delighted to welcome MPCH as the new investor in Franklin Baker, a move we believe will significantly enhance the future of Franklin Baker and the Philippine coconut industry.”