By James A. Loyola
Leading food and beverage kiosk operator Fruitas Holdings, Inc. (Fruitas) is gearing up for expansion, particularly in Mindanao, while adding more brands to its food portfolio.
In a disclosure to the Philippine Stock Exchange, Fruitas said it has recently acquired a property in Sasa, Davao City, initially to be used as office and warehouse space, in preparation for faster growth in Mindanao.
The company has increased the number of stores in Mindanao as a percentage of total locations by 20 percent from the middle of 2019.
Fruitas said it has completed the acquisition of the assets of Heat Stroke Grill, with two outlets located in the Fruitas food parks in Quezon City.
“This acquisition is in line with the strategy of Fruitas for its food parks, viewing them as incubators for new concepts,” the firm said.
Fruitas said it anticipates making Heat Stroke Grill an anchor locator in the food parks or foodcourts it may operate in the future.
The recent acquisition is a key addition to its food portfolio and will complement Sabroso Lechon and its rice meals concepts.
Fruitas intends to replicate the success of its past acquisitions, Sabroso Lechon and De Original Jamaican Pattie Shop and Juice Bar.
The firm said its vision is to be ubiquitous in Filipinos’ lives and grilled food is an integral part of Filipinos’ daily diet, as evidenced by the proliferation of grilled food offerings in key commercial establishments.
It estimates that the top 3 players in this segment have more than 200 branches.
Fruitas currently has 1,068 stores and targets to grow its network to 2,000 stores by 2023. It plans to make 2020 a year of ever-increasing corporate and shareholder value.