Century Pacific Food Inc. (CNPF) is one of the largest branded food companies in the Philippines. Executive Chairman Chris Po spoke with Bridges.
Bridges: What role does CNPF play in the Philippines?
Po: We provide affordable nutrition to our consumers. In a country where 70% to 80% of households belong to the low- to middle-income socioeconomic bracket, it is critical to have protein sources that are affordable and accessible to ensure food security.
We operate in three key segments — marine, meat and milk — and our emerging businesses are coconut, condiments, plant-based alternatives and pet food. In these segments, we designed a multibrand portfolio that cuts across different price tiers, from value for money to affordable premium, to cater to varying consumer needs.
Over the years, our brands have become household names in the Philippines, market leaders and strong challengers. In marine and meat, we hold the lion’s share as category builders.
Our growth story is strongly linked to our purpose: As we grow the business, so does the extent by which we are able to provide nutrition to Filipinos.
What growth strategies do you have in place?
In the branded business, we have core segments marine and meat, where we are market leaders and tend to grow alongside the Philippine economy. The company has also been diversifying into new and emerging segments through innovation, categories such as milk, coconut and plant-based alternatives, which deliver faster growth. All these are underpinned by the strengthening of the Philippine middle class.
We likewise see a global opportunity for “unmeat,” which is our entry into the developing plant-based alternatives category.
(As an) OEM (original equipment manufacturer), we work with global brands and retailers to produce white label tuna and coconut products for export. The business complements our branded tuna and coconut segments.
Japan is currently one of our largest markets for tuna.
How important is sustainability?
Sustainability is core to our mission and purpose as a company. More and more, our stakeholders — employees and consumers, especially the young ones, and the investing community — are patronizing brands that are aligned with their values. ESG (environmental, social and governance investment) is essential to our longevity as publicly listed company.
