Century Pacific Food Inc. said wholly-owned subsidiary Century Pacific Seacrest Inc. acquired the license to the Kamayan trademark for North America.
Kamayan is one of the top brands in the US market for shrimp paste”•a popular condiment in Philippine cuisine, locally known as bagoong.
“This is an exciting addition to Century Pacific’s growing range of products and brands,” Gregory Banzon, vice president and general manager for branded export of Century Pacific, said.
Century Pacific is the Philippines’ largest canned food company.
“We intend to capitalize on our manufacturing and marketing capabilities, plus our developing sales coverage globally, to expand the Kamayan portfolio,” Banzon said.
Kamayan brand has grown its presence in the United States since entering the market in the 1980s.
It is currently being sold in leading Asian food stores across the West and East Coast, catering primarily to large Filipino communities there.
Century Pacific’s acquisition also includes the Kamayan license for Canada.
It is also expected to support the growth of Century Pacific’s international branded business as it continues to expand in countries where there is a strong overseas Filipino presence.
Century Pacific has established market leadership locally for brands Century Tuna, Argentina Corned Beef, 555 Sardines and Birch Tree.
The same brands gained traction abroad as the company gradually builds its international presence.
The company’s branded products are available in more than 55 countries globally.
Flagship Century Tuna is now among the leading brands in China, Vietnam and the Middle East. The acquisition of Kamayan is also in line with Century Pacific’s strategy to be a leading player in ambient food products.
Century Pacific earlier said net income grew 46 percent in the first half to P1.36 billion, on the back of robust demand for branded food products and the recent consolidation of a new coconut business line.
The company is expected to end the year with double-digit growth rates this year.
Century Pacific saw consolidated revenues and net income expand 14 percent and 21 percent in 2015, respectively.