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Century Pacific Food Corporation Acquires Loma Linda and Tuno Brands from Plant-Based Meat Producer for Less Than $10 Million

Century Pacific Food, a prominent Filipino corporation, has obtained the assets of plant-based meat manufacturer Atlantic Natural Foods for under $10 million.

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Century Pacific Acquires Plant-Based Tuno Brand from Manufacturer for Less Than $10 Million Dollars
Century Pacific Acquires Plant-Based Tuno Brand from Manufacturer for Less Than $10 Million Dollars

Century Pacific Food Corporation Acquires Loma Linda and Tuno Brands from Plant-Based Meat Producer for Less Than $10 Million

Century Pacific Food, a Filipino food conglomerate owned by the Po family, has made a strategic move into the plant-based category with the acquisition of Atlantic Natural Foods. This deal, conducted through Century Pacific's North American subsidiary, Century Pacific North America (CPNA), was finalised at the beginning of the month for less than $10M.

Atlantic Natural Foods, a 135-year-old company, has sold its brands, including Loma Linda, Tuno, Neat, Kaffree Roma, and more recently, Unmeat. Unmeat, a plant protein brand, offers shelf-stable products in over 13,000 stores globally.

The acquisition reflects Century Pacific Food's growth strategy in the plant-based sector. The company's advanced R&D capabilities and world-class manufacturing attracted Atlantic Natural Foods as a supply partner, leading to the acquisition.

Atlantic Natural Foods faced several challenges in recent times, including sales and investment issues, Covid-19 disruptions, supply chain volatility, and rising inflation. The company even had to shut down its US manufacturing site in March. Despite these challenges, Century Pacific Food saw potential in the company's brands and decided to acquire them.

The takeover is the latest in a series of M&A deals in the plant-based sector, following acquisitions by InvenTel, v2food, Ahimsa Companies, and Misha's Inc. Wicked Kitchen, Simulate, and Blackbird Foods have all been taken over by Ahimsa Companies in the last year or so, while Wild Earth, a vegan pet food maker, was recently acquired by InvenTel after filing for bankruptcy. Daring Foods was bought by Australia's v2food last week, and Vertage, a dairy-free cheesemaker, was snapped up by Misha's Inc in January.

The acquisition positions the Philippines as the primary supply location for Loma Linda's shelf-stable products, targeting Seventh-day Adventists in the country. This move aligns with Century Pacific Food's broader mission to build a healthier, more sustainable portfolio.

Century Pacific Food, now a global processor of meat, seafood, dairy, pet food, and plant-based products, expects the acquisition to bring immediate financial benefits and operational integration without disruption. The company was first established as a food canning company in 1978.

This acquisition marks another step in Century Pacific Food's journey to become a leader in the global food industry, particularly in the plant-based sector. As the demand for plant-based alternatives continues to grow, it's clear that Century Pacific Food is positioning itself to meet this demand and offer sustainable, high-quality food solutions to consumers around the world.

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