By: The Philippine Star
MANILA, Philippines — The Po family is making big business moves before the year ends as it is set to acquire top food brands Potato Corner and Ligo.
In separate disclosures to the Philippine Stock Exchange early Friday morning, Century Pacific Food, Inc. (CNPF) and Shakey’s Pizza Asia Ventures, Inc (SPAVI), where the Po family is the majority owner, announced the acquisitions of these brands. Both deals came months after the death of the Po family’s patriarch and CNPF founder, Ricardo Po, Sr.
In the purchase of Ligo, a household name for sardines, CNPF said the acquisition will involve CNPF purchasing assets and intellectual property related to Ligo’s product manufacturing.
“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,” Christopher Po, company executive chairman, said.
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