Century Pacific Food’s plant-based brand expands reach and offerings
CENTURY PACIFIC Food, Inc. (CNPF) continues to boost its global presence as its plant-based food brand recently entered Australia and launched new offerings in the United States.
In a stock exchange disclosure on Wednesday, the listed food and beverage firm said its unMEAT brand is now available in Australia via supermarket chain Woolworths.
“Woolworths, Australia’s largest supermarket chain, now carries unMEAT in 960 stores nationwide. The brand is likewise available on the retail giant’s e-commerce platform. unMEAT entered the chain with its range of plant-based luncheon meat in shelf-stable format, all priced at parity to luncheon meat analogs,” it said.
CNPF Executive Vice-President and Chief Operating Officer Gregory Francis H. Banzon said plant-based food consumption in Australia is increasing, with one in three Australians “consciously reducing meat consumption.”
In the US, CNPF is now offering more unMEAT products as Walmart added meat-free chili with beans, chicken-style chunks, and roast beef to the items being sold on the retailer’s shelves.
Earlier in the year, CNPF’s unMEAT luncheon meat debuted in about 1,800 Walmart stores.
“The thesis behind plant-based alternatives remains. Consumers want healthier and more planet-forward food choices. As a food company, we need to address these needs through innovation and reduce friction by making options more affordable and accessible,” Mr. Banzon said.
Currently, CNPF’s unMEAT brand is carried by retailers such as Walmart, Albertsons, Harris Teeter, HEB, and Meijer in the US; Carrefour in the UAE; and FairPrice in Singapore.
“Developing the plant-based alternatives category requires innovation, not just of the protein source but also the variety. Apart from reducing the price friction, we need to give consumers more points of entry through a wider select,” Mr. Banzon said.
CNPF entered the plant-based sector in 2020 with the institutional launch of unMEAT via its affiliate company, Shakey’s Pizza Asia Ventures, Inc., which was then followed by the launch of its frozen range in the local retail market in 2021.
The brand also began its international rollout in 2021 as it expanded to the United Arab Emirates, the United States, Singapore, and China.
In the first half of the year, CNPF’s net income climbed 8% to P3.19 billion as its revenues improved 7% to P33.44 billion.
On Wednesday, shares of CNPF at the local bourse rose P1.40 or 4.83% to finish at P30.40 apiece. — Revin Mikhael D. Ochave
