Century Pacific bags Hunt’s
Iris Gonzales (The Philippine Star) - May 3, 2017 - 12:00am

MANILA, Philippines -  Century Pacific Food Inc. (CNPF) has acquired the Philippine license for the iconic pork & beans brand, Hunt’s from a joint venture between Universal Robina Corp. (URC) and Hunt’s.

“We are excited about expanding our portfolio with brands and products that resonate with Filipino consumers. Hunt’s is a welcome addition with its local dominance in pork & beans, its emerging presence in condiments, and its potential to be another source of growth for us,” said CNPF president and CEO Christopher Po.

CNPF will acquire the rights to manufacture, sell, and distribute Hunt’s branded products in the Philippines from Hunt-Universal Robina Corp. (HURC).

 HURC is a 50-50 joint venture between Universal Robina Corp. and ConAgra Foods, one of North America’s leading packaged food companies.

ConAgra will continue to own the Hunt’s trademark globally.

The deal also includes the transfer of manufacturing assets and inventory related to HURC’s Hunt’s product lineup – pork & beans, tomato-based spaghetti sauce, tomato sauce, and marinade sauce.

URC chief executive officer Lance Gokongwei said the company has shifted its focus on core categories.

“We have recently conducted a strategic review of our portfolio and have shifted our focus on our core categories namely snack foods and beverages which are geared towards convenience and on-the-good occasions,” Gokongwei said.

He said Hunt’s was the first joint venture brand of URC and ConAgra.

“And together we have built a strong grocery category in pork & beans and sauces,” Gokongwei said.

CNPF, the country’s largest canned food company, has an established track record of brand-building, which now spans close to 40 years. It has developed a roster of household names which include Century Tuna, Argentina Corned Beef, 555, Angel, and Birch Tree, maintaining market leadership in both the canned tuna and canned meat segments.

Hunt’s, one of the world’s foremost leaders in the field of tomato-based products,has a long heritage, spanning more than 100 years globally. It entered the Philippines in 1984.

At present, Hunt’s maintains an expanded product portfolio, which includes other tomato-based culinary sauces, and dominates the ready-to-eat canned beans category with an 86 percent market share locally.

“This will be an accretive acquisition for us and we see a number of potential synergies. These include synergies in the supply chain, distribution, manufacturing, and marketing,” said Po.

In late 2016, CNPF also acquired the Kamayan trademark for North America, one of the top names for shrimp paste, which marked the company’s initial foray into branded categories outside its core segments of marine, meat, and milk.

CNPF reported a net income of P2.66 billion last year, up 37 percent year-on-year on the back of double-digit branded revenue growth, improved profitability, and the full-year consolidation of its coconut business.

CENTURY PACIFIC FOOD INC.
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