All Market Singapore PTE Ltd. Enters into a Manufacturing and Purchasing Agreement with Century Pacific Food, Inc
March 14, 2024 at 04:29 pm EDT
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On March 8, 2024, All Market Singapore PTE Ltd., a wholly owned subsidiary of The Vita Coco Company, Inc. entered into a Manufacturing and Purchasing Agreement with Century Pacific Food, Inc. The Company has an existing relationship with an affiliate of Century Pacific for the manufacture of various Company products in accordance with the terms of that certain Manufacturing and Purchasing Agreement, dated as of September 17, 2012, which is filed as Exhibit 10.14 to the Company's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on September 27, 2021. The Manufacturing Agreement expands the Company's existing relationship with Century Pacific to include, among other things, the production of the Company's products at an additional manufacturing facility. The Manufacturing Agreement has an initial term that commenced on March 8, 2024 and continues until the last day of the sixth full calendar year from the date of first delivery of the Company's products under the agreement unless an extension is mutually agreed by the parties.
Pursuant to the Manufacturing Agreement, Century Pacific will take all reasonable commercial steps to begin production on the Company's products on or before the first fiscal quarter of 2025, including building a new manufacturing facility at its own cost. Century Pacific will provide the raw materials and packaging required for production, and the Company will provide necessary training and technology for production. In exchange, the Company commits to purchase a minimum volume of product at prices set annually over the term of the Manufacturing Agreement.
The minimum volume may be adjusted annually but cannot be lower than the required minimum volume. The Manufacturing Agreement also contains a penalty if the Company has failed to order, or Century Pacific has failed to supply, the required minimum volume during any consecutive 12-month period commencing on January 1 and ending on December 31 during the term. The manufacturing Agreement also contains a right of first refusal in favor of the Company whereby if Century Pacific is capable of producing in excess of the minimum volume and chooses not to utilize such product for its own brands, Century Pacific shall grant the Company a right of first refusal to purchase such excess volume.
Century Pacific Food, Inc. is a Philippines-based branded food and beverage company. The Company is primarily engaged in the manufacturing, marketing, and distribution of processed marine, meat, milk, coconut, plant-based, and pet products. It operates through seven business segments: Canned and Processed Fish, Canned and Frozen Meat, Milk, Tuna Export, Coco Water, Packaging, and Corporate. Its products and services include tuna, sardines, other seafood-based products, corned beef, meatloaf, other meat-based products, canned milk, powdered milk, other dairy products, private label canned, pouched and frozen tuna, other tuna products, coconut beverages, coconut oil, coconut shells, other coconut products, packaging products, and shared services warehousing. Its brands include Century Tuna, 555, Ligo, Argentina, and Birch Tree, as well as emerging and challenger names such as Blue Bay, Fresca, Swift, Angel, Kaffe de Oro, Coco Mama, Home Pride unMEAT, Choco Hero and Goodest, among others.
CENTURY PACIFIC FOOD, INC. 
