Century Tuna maker acquires Ligo

Canned and processed food giant Century Pacific Food Inc. is expanding its portfolio of canned marine products as it acquires household legacy brand Ligo.

In a disclosure to the Philippine Stock Exchange on Friday, Century Pacific said it will purchase assets and
intellectual property related to the manufacturing of Ligo's product lineup, which is composed of shelf-stable marine products.

“Ligo is a leading brand in the sardine category. Ligo will be highly synergistic with the rest of our shelf stable marine products. We are deeply humbled that the Tung family has entrusted this brand to our company, and we shall do our utmost to honor this legacy brand and continue its heritage,” said Christopher Po, executive chairman of Century Pacific.

The Po family-led canned foods maker said shelf-stable sardines are among the top consumer staple products in the Philippines.

The category is one of the most accessible protein and calcium sources for Filipino consumers, an essential product that supports food security in the country, it said.

“This will be an accretive, bolt on acquisition. We foresee synergies in selling and distribution, supply chain, and marketing. Moreover, this acquisition is very aligned with our mission to provide affordable nutrition to our consumers,” Po said.

“Our company has a long-standing business in the sardines category. We will be leveraging our scale and our experience to create more value for the brand, which will in turn strengthen our core business.”

Ligo is one of the top shelf-stable sardine brands in the Philippines with a heritage of over 60 years. It is a market leader in key regions in the Philippines.

Century Pacific, on the other hand, is one of the largest manufacturers and exporters of marine products. It is the maker of household brands such as Century Tuna, 555, Blue Bay, and Fresca.

Century Pacific said it has been diligently building up its portfolio.

Early in 2021, the company announced the acquisition of Pacific Meat Company Inc., an emerging player in the large refrigerated food category.

The company also entered into developing and fast-growing categories such as plant-based alternatives and pet food through new brands, “unMEAT” and “Goodest,” respectively.

Century Pacific has also announced the expansion of its dairy business as well, launching a new brand “Choco Hero” to compete in the choco malt segment. —KBK, GMA News