Century Tuna Is Acquiring Ligo Sardines
The Po family is ending the year 2021 with big acquisitions. Century Pacific Food, Inc. (PSE:CNPF) announced its move to acquire Ligo Sardines in a disclosure to the Philippine Stock Exchange on December 24.Â
In a statement, Christopher Po, the executive chairman of Century Tuna, said, "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."
Under the deal, Century Pacific Food will purchase assets and intellectual property related to the manufacturing of 'Ligo's' product lineup, which is composed of shelf-stable marine products.
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
Ligo is a legacy brand known for its range of high-quality sardines and other marine products. 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, on the other hand, is one of the largest manufacturers and exporters of marine products. Among its products are Century Tuna, 555, Blue Bay, and Fresca.
