The Company Behind Century Tuna Is Expanding Into... Pet Food
Listed Century Pacific Food (CNPF), the company perhaps most famous for its Century Tuna brand, is entering the pet food market through a new brand called Goodest. In a filing with the Philippine Stock Exchange, the company said its expansion into the new category was driven by the fact that pet food is one of the fastest-growing consumer good categories in the country and the world.
“With long-term trends such as rising incomes as well as demographic trends of people staying single longer or having children later, as well as people spending more time at home due to the pandemic, we see pet ownership on the rise,” Christopher Po, CNPF’s executive chairman, said. “More Filipino households are now caring for pets and treating them as family. Moreover, the penetration of pet food is still very low in the Philippines versus our more affluent ASEAN neighbors. We expect this category to continue growing going forward.”
The company said it will start its venture into pet food with a range of “affordable” cat food, which is formulated with “essential nutrients and minerals cats need for their daily food intake.” The range will also meet “the gold standard in pet nutrition set by the Association of American Feed Control Officials (AAFCO).”
“Pet care holds a lot of promise as a category,” said Alexander Lim, CNPF’s Head of Innovations and general manager for pet food. “Pet owners have now evolved into ‘fur parents.’ For them, pets are family and should be given the best care and nutrition possible within their reach.”
CNPF is a company founded by Ricardo Po Sr, who passed away at 90 years old last October 12. Besides Century Tuna, the company also owns the following brands: Angel (milk), Argentina, Birch Tree, Blue Bay, Swift, unMeat, Fresca, and many others. It now also has an interest in real estate (Arthaland Corporation), and has a majority stake in popular pizza restaurant chain Shakey’s.
“Our entry into the pet category is another output of the company’s innovation thrust that led to recent new product launches,” Po said. “We are hopeful that this and other innovations will become future growth drivers for the company.
“We are always on the lookout for opportunities to expand our portfolio, whether organically or inorganically, but it needs to be purposeful,”he added. “In the case of pet food, we think we have found an attractive opportunity where we believe we can offer compelling value to the market. We see this as a strongly synergistic and accretive business unit that can leverage our manufacturing and brand-building know-how. We look forward to building our pet food business and are excited for the vast opportunities that are available for the company in this high-growth category.”
Goodest is now available in leading supermarket chains and online retail platforms.