Food and beverage manufacturer Century Pacific Food Inc. (CNPF) has expanded its shelf-stable consumer portfolio with a deal to acquire 60-year-old sardine and other marine products brand Ligo from the Tung family.

"Ligo is a leading brand in the sardine category. Ligo will be highly synergistic with the rest of our shelf stable marine products. We are deeply humbled that the Tung family has entrusted this brand to our company, and we shall do our utmost to honor this legacy brand and continue its heritage," Christopher Po, CNPF executive chair, said in a disclosure to the Philippine Stock Exchange on Friday.

"This will be an accretive, bolt on acquisition. We foresee synergies in selling and distribution, supply chain, and marketing. Moreover, this acquisition is very aligned with our mission to provide affordable nutrition to our consumers. Our company has a long-standing business in the sardines category. We will be leveraging our scale and our experience to create more value for the brand, which will in turn strengthen our core business," he added.

Under the deal, CNPF will purchase assets and intellectual property related to the manufacturing of the product lineup of Ligo, a market leader in key regions in the Philippines.