METRO Pacific Investments Corp. (MPIC) branches into another agri venture, with its wholly owned subsidiary, Metro Pacific Agro Ventures Inc. (MPAV), acquiring 34.76 percent ownership in Axelum Resources Corp. (ARC) for P5.32 billion.

ARC is the leading manufacturer and exporter globally of high-quality coconut products, and one of the major suppliers of Vita Coco, the global market leader in coconut water.

The company is also a major exporter of desiccated coconut, coconut milk/cream, coconut cooking oil, and other coconut products.

The acquisition buttresses MPIC’s promise of becoming a serious player in the agricultural field, following its investment in the dairy sector last year.

ARC products are widely distributed in the United States, Canada, Australia, New Zealand, Eastern Europe, the Middle East, Japan, and some countries in Asia. (PR)