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Anscor dishes out P1.6 billion for stake in The Bistro Group

Business | The Stock Market

Anscor dishes out P1.6 billion for stake in The Bistro Group

By Manila Bulletin

TBG Food Holdings, Inc. (The Bistro Group), local owner of popular restaurant brands such as Italianni’s, TGI Friday’s, and Texas Roadhouse, has secured a P1.6 billion investment from A. Soriano Corporation (Anscor).

In a disclosure to the Philippine Stock Exchange, Anscor said it acquired the shares through a Deed of Sale with Navegar I (Singapore) PTE. LTD.

The investment, finalized on Nov. 13, 2024, gives Anscor a minority stake in the leading casual dining operator.

Anscor said the investment represents less than 50 percent of TBG's total outstanding shares.

Anscor noted that this move allows the company to tap into the growing Philippine casual dining sector, which is known for its strong performance and potential.

The Bistro Group operates over 200 full-service restaurants across 23 brands in the country.

Its collection of 30 international hospitality casual dining brands and homegrown concept stores are divided among three groups: The Bistro Group (TBG), TBG Elite Restaurants Inc., and Bistronomia.

Included in TBG are TGI Fridays, Italanni’s, Olive Garden, Texas Roadhouse, Fish & Co., Bulgogi Brothers. Denny’s, Modern Shanghai, Hard Rock, Pollo Loco, Buffalo Wild Wings, Randy’s, Secre Recipe, and Red Lotus.

TBG Elite consists of upscale concepts such as Ember by Josh Boutwood, Helm, Savage, and the Test Kitchen 9780; while Bistronomia consists of Spanish or Latin food concepts Bistronomia, Las Flores, BCN by Las Flores, Tomatito tapas bar, Rambla, and Rumba.

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