Press Release | Axelum Resources Corp. | February 6, 2023
Axelum forges strategic partnership with Metro Pacific Agro Ventures, Inc.
Axelum Resources Corp. (ARC, PSE: AXLM), the country’s leading fully-integrated manufacturer, exporter and retailer of globally in-demand consumer food essentials, primarily best-in-class premium coconut products, has entered into a strategic partnership with Metro Pacific Agro Ventures, Inc.
(MPAV). MPAV is a wholly-owned subsidiary of Metro Pacific Investments Corporation (MPIC, PSE: MPI), a leading infrastructure investments company in the Philippines, with diversified interests in power, toll roads, water, transportation, healthcare and real estate.
The total investment transaction is valued at ₱5.32 billion, representing a 34.76% equity stake for MPAV in Axelum, conditional to regulatory confirmation and other closing precedents.
Mr. Romeo I. Chan, Chairman and Chief Executive Officer of Axelum Resources Corp. states, “Through this partnership, we aim to achieve our life-long vision of further developing and transforming the Philippine coconut industry. We proudly welcome our new partners, MPAV and the entire MPIC organization, and we thank them for sharing the same values and ambition to advance the coconut industry by synergizing our resources and expertise.”
Mr. Chan adds, “More importantly, this puts us in a strong position to help uplift the marginalized coconut farming communities in our country and contribute to the continuous development of the agricultural sector.”
This partnership plans to pursue value-accretive opportunities both in local and international markets, and aims to harness the potential of the coconut industry anchored on best sustainable practices and nation-building.
“The north star of our agriculture business is helping our country achieve food security,” says MPIC Chairman, President, and CEO Manuel V. Pangilinan. “This investment into ARC will mean more income opportunities for coconut farmers, as well as a broader landscape for Philippine agriculture.”
Axelum is present in over 30 export markets, with an extensive coconut portfolio ranging from coconut milk and desiccated coconut, to coconut water and coconut cream, under the homegrown labels Fiesta, Fiesta Tropicale, Red V and Romantika. In addition, Axelum is a top strategic supplier to Vita Coco, the world’s largest and most popular coconut water drink. For 2022, Axelum is on-pace to post record earnings driven by robust global demand and strength of the dollar.