Century Pacific Food hikes capex to P4-5B

FOOD and beverage firm Century Pacific Food Inc. (CNPF) is earmarking a higher amount of P4 billion to P5 billion for capital expenditures (capex) this year to fund investments and expand the capacity of its coconut business.

"We announced an expanded agreement with Vita Coco, which will bring incremental volumes over the next four to five years. This includes a $40-million investment in additional capacity to serve both OEM [original equipment manufacturer] and domestic markets," CNPF Executive Chairman Chris Po said.