Shakey’s Pizza Asia Ventures Inc. is ramping up the expansion of newly-acquired Potato Corner with the aim of doubling its store count in three to four years instead of the previous plan of five to seven years.
The firm is planning to put up 150 Potato Corner stores this year in addition to the over 1,000 stores already operating when it acquired the business.
Shakey’s President Vicente Gregorio said the acceleration is in response to demand for the business among entrepreneurs since the company acquired it early this year.
According to Shakey’s Chairman Christopher Po, the brand has a lot of room for growth amid expanding retail spaces, particularly in the Visayas and Mindanao.
Gregorio said Potato Corner is a “bankable” addition to the company’s portfolio adding that, “We, at Shakey’s, are grateful that Potato Corner’s former owners are entrusting the brand to our team. We look forward to continuing on its legacy and strengthening the Potato Corner brand even more.”
When the acquisition was announced in December, Shakey’s said the purchase is an “accretive acquisition” given that the Philippine brand has built a vast network of presence both locally and overseas since its inception in 1992.
“Over the years, the business has built a strong brand equity and demonstrated robust performance, attractive margins, and the capability to scale – all aligned with PIZZA’s criteria for acquisitions,” Shakey’s said.
It added that, “Shakey’s will pursue maximizing synergies and wielding its expertise in business development, franchise management, and supply chain operations to further grow the brand sustainably.”
Last March, Shakey’s also acquired Potato Corner’s business in Singapore.