Century Pacific Food has confirmed the acquisition of key assets from Atlantic Natural Foods, specifically the Loma Linda ready meals and Tuno alt-tuna brands.
The Philippines-based food and drinks company announced through a stock exchange filing that the transaction, executed via its Century Pacific North America (CPNA) division, was completed for “less than” $10 million.
Century Pacific Food stated on August 12 that this asset purchase will enable the company to “further scale its growing presence in shelf-stable, plant-based nutrition.”
Furthermore, the deal includes the Neat egg alternative and the caffeine-free Kaffree Roma drinks brands, along with specific formulations, select manufacturing assets, licenses, and remaining inventory.
Greg Banzon, Chief Operating Officer of Century Pacific Food, remarked: “We are bringing together a trusted heritage brand and a disruptor brand under one roof – leveraging decades of consumer trust with bold innovation.”
He emphasized that this acquisition allows the company to serve both loyal customers and younger generations seeking accessible, nutritious, and sustainable food choices.
Notably, Century Pacific Food had previously expressed interest in Atlantic Natural Foods’ assets and was named the stalking horse bidder in June.
In April, Atlantic Natural Foods filed for Chapter 11 bankruptcy in the U.S., prompting a Louisiana bankruptcy court to approve the bidding process in June. Subsequently, Atlantic Natural Foods signed an asset purchase agreement with Century Pacific Food.
The bankruptcy filing disclosed that Atlantic Natural Foods held assets ranging from $10 million to $50 million, and liabilities between $1 million and $10 million.
Loma Linda, which has roots dating back to 1890, was transformed by Atlantic Natural Foods into a “key player” in health foods, as stated by Century Pacific Food.
Since its acquisition of Loma Linda in 2016, Atlantic Natural Foods has developed popular products such as Big Franks vegan hotdogs, Skallops, and Tuno, its flagship plant-based tuna, currently available in North America and over 30 countries.
Century Pacific Food’s U.S. business also offers the unMeat brand, a shelf-stable plant-based product line featured in retailers such as Walmart and over 13,000 stores globally.
Banzon concluded: “The acquisition reflects CPNA’s measured and profitable growth strategy: tapping into established markets while accelerating momentum for plant-based food adoption across diverse geographies.”
Ultimately, he noted that this move reinforces the group’s broader mission of building a healthier, more sustainable portfolio that provides affordable nutrition to the consumers we serve.
