MANILA, Philippines — Axelum Resources Corp., a listed integrated manufacturer and exporter of premium coconut products, has sealed a new multi-year deal with The Vita Coco Co Inc., one of the world’s largest coconut water brands.
The contract renewal signed yesterday marks the continuing strategic alliance between two companies, which are strongly positioned to capitalize on the trajectory of the global coconut water segment in the coming years.
Axelum chairman and chief executive officer Romeo Chan said the multi-year deal would further strengthen one of the company’s fastest-growing segments.
“We are proud to be associated with an iconic better-for-you beverage brand, who shares our passion for delivering high-quality and better-tasting coconut water products to the international mainstream market,” Chan said.
“Our longstanding partnership is the epitome of technology and innovation, transforming a tropical fruit derivative into a high-demand global consumer product,” he said.
Axelum in 2009 became the first supplier to Vita Coco located outside of Brazil.
Axelum operates a state-of-the-art ultra-high temperature processing facility that is skillfully manned by dedicated personnel to produce some of Vita Coco’s bestselling products - Original Coconut Water, Farmers Organic and Pressed Coconut Water.
The company recently commissioned a new filling machine to augment its existing production output to meet the increasing volume requirements of Vita Coco in the long-term.
“Axelum has been an integral part of our growth story. Throughout the years, they have proven to be a reliable partner that has consistently ranked amongst our top suppliers in terms of quality and service,” The Vita Coco Co. Inc. co-founder and executive chairman Michael Kirban said.
“With this new deal, we are excited to continue our relationship and look forward to driving exponential growth for many years to come,” he said.
Manuel V. Pangilinan-led Metro Pacific Investments Corp. in December last year sealed a P5.3-billion deal to acquire a stake in Axelum.
MPIC, through wholly owned subsidiary Metro Pacific Agro Ventures Inc., secured a 34.76-percent stake in the company.