Tuna and processed meat canner Century Pacific Food Inc. (CPFI) will be acquiring 100 percent of sister firm Century Pacific Agricultural Ventures Inc. (CPAVI), a coconut products maker, as part of a plan to expand into new food markets.

In a disclosure, CPFI said it would be buying CPAVI from parent firm Century Pacific Group, Inc. for P4.5 billion, half to be funded by cash and the rest from the issuance of new shares.

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