CENTURY PACIFIC Food, Inc. (CNPF), a Filipino food and beverage company, said its US subsidiary Century Pacific North America, Inc. (CPNA), a plant-based food producer, has expanded its portfolio by acquiring the Loma Linda brand and related assets from Atlantic Natural Foods, Inc., a health food manufacturer, for under $10 million.
The acquisition covers other brands such as Tuno, neat, and Kaffree Roma, as well as formulations, select manufacturing assets, licenses, and remaining inventory, CNPF said in a regulatory filing on Tuesday.
CNPF Chief Operating Officer Gregory Francis H. Banzon said the transaction, valued at less than $10 million, is expected to be immediately accretive to the business.
“This is a strategic and synergistic move for CPNA. We are bringing together a trusted heritage brand and a disruptor brand under one roof — leveraging decades of consumer trust with bold innovation. This allows us to serve both loyal customers and new generations seeking accessible, nutritious, and sustainable food choices,” Mr. Banzon said.
Loma Linda is a 135-year-old brand that has catered to the dietary requirements of health-conscious consumers, especially among the Seventh-day Adventist community. It has product creations dating back 1890 by John Harvey Kellogg, from the family behind today’s Kellogg Co.
After ANF acquired Loma Linda in 2016, the brand emerged as a major name in health foods, offering products such as BIG FRANKS vegan hotdogs, SKALLOPS — the first plant-based seafood alternative — and TUNO, its flagship plant-based tuna, which are now available throughout North America and in more than 30 countries globally.
CNPF said that CNPA’s research and development capabilities and manufacturing attracted ANF as a supply partner, which eventually led to the acquisition.
“The acquisition reflects CPNA’s measured and profitable growth strategy: tapping into established markets while accelerating momentum for plant-based food adoption across diverse geographies. Ultimately, it reinforces the group’s broader mission of building a healthier, more sustainable portfolio that provides affordable nutrition to the consumers we serve,” Mr. Banzon said.
CPNA is known for plant-based products under the unMeat brand, which is available across major US retailers and over 13,000 stores globally.
CNPF shares dropped by 1.13% or 40 centavos to P35 apiece on Tuesday. — Revin Mikhael D. Ochave
