Julia Christine Botin

Article (news)

Benise Balaoing

ABS-CBN News

MANILA — The Philippine Competition Commission has approved Metro Pacific Agro Ventures&#x27; purchase of Franklin Baker Company of the Philippines.Metro Pacific Agro Ventures, the agri-food unit of Metro Pacific Investments Corp., has a subsidiary called Axelum Resources Corp. Axelum is a manufacturer and exporter globally of desiccated coconut, coconut milk and cream, coconut cooking oil, and other coconut products.It is also one of the major suppliers of coconut water brand Vita Coco.Franklin Baker, meanwhile, also makes and exports coconut products like sweetened coconut, toasted coconut, coconut water, coconut milk and cream, virgin coconut oil, and dessicated coconut. Both companies have production facilities in Mindanao.The competition watchdog said it initially had concerns about a potential monopsony or a situation in which only one company is the buyer of raw coconut.Upon further evaluation, however, the antitrust body said the transaction is unlikely to result in a substantial lessening of competition in the market.&quot;The manufacture of desiccated coconuts, coconut water, coconut cream, and coconut milk is global in scope, and affected by factors such as the presence of numerous competing global suppliers, and the price sensitivity of buyers, which limits the ability or incentive of the parties to unilaterally raise prices or reduce product quality,&quot; the PCC said.It also said that there are other potential buyers of raw coconut in Mindanao, where both companies have production facilities.&quot;The presence of alternative purchasers, particularly copra manufacturers, who are the largest buyers and absorb a substantial share of supply, creates a countervailing demand that mitigates the risk of buyer dominance and ensures that coconut farmers continue to have multiple viable outlets for their produce,&quot; the PCC said.

The Philippine Competition Commission has approved the move of Metro Pacific's agro-food unit to buy a coconut producer in the Philippines.

The Philippine Competition Commission has approved the move of Metro Pacific's agro-food unit to buy a coconut producer in the Philippines.

Competition watchdog OKs Metro Pacific unit's purchase of coco producer Franklin Baker

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Competition watchdog OKs Metro Pacific unit's purchase of coco producer Franklin Baker

Benise Balaoing,

ABS-CBN News

Published Dec 19, 2025 01:20 PM PHT

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Philippine Competition Commission

Metro Pacific Agro Ventures

Franklin Baker Company of the Philippines

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