Century Pacific Food, the largest food canning company in The Philippines, has acquired the rights to sell Kamayan shrimp paste in North America.
Shrimp paste is a popular condiment in Philippine cuisine, and the Kamayan brand is currently being sold in leading Asian food stores across the United States and Canada, primarily on the West and East coasts, where there are large Filipino communities, the Manila Standard reported.
“This is an exciting addition to Century Pacific’s growing range of products and brands,” Century Pacific vice president and general manager for branded export Gregory Banzon said. “We intend to capitalize on our manufacturing and marketing capabilities, plus our developing sales coverage globally, to expand the Kamayan portfolio.”
The newspaper also reported that in 2015, Century Pacific saw consolidated revenues rise by 14 percent and net income increase by 21 percent, the company told the Standard. In the first half of 2016, net income grew 46 percent, reaching PHP 1.36 billion (USD 28.1 million, EUR 25.4 million). The second half of the year looks equally promising for the company, as it expects to maintain double-digit growth rates, the Standard reported.
