Bounty Fresh Group Holdings Inc. is shelving its initial public offering (IPO) plans to focus on strengthening its operations and building resilience in anticipation of a potential rise in future poultry consumption.

Bounty Fresh President and Chief Executive Officer (CEO) Kenneth Cheng said that there are no IPO plans currently in the pipeline, with the company's intention being to implement “good governance” in its operations.

“Similar to last year, hindi totoo ang tsismis (the rumors are false). So again, there’s no plans,” Cheng told reporters.

“But then, I cannot say no because I don’t know what will happen in the future,” he added.

Last year, Cheng said Bounty Fresh held off plans to go public since the company has enough capital to fund its expansion plans.

In 2023, Bloomberg reported that Bounty Agro Ventures Inc., which operates Bounty Fresh, was eyeing an IPO that could raise up to $500 million.

This year, Cheng said Bounty Fresh is focused on making its corporate functions better through investments in both people and processes.

“We want a company that is more resilient, able to face challenges that come,” he said.

While he did not disclose figures, Cheng noted that the company has been ramping up investments to build new farms and plants to meet future demand.

He said all their investments are expected to support projected growth in poultry consumption, coinciding with the country’s population growth.

Citing a study from Girafood, Cheng said there is a projected growth of 500,000 tons in poultry meat consumption every five years. Of which, domestic production is expected to fill the demand.

The executive said about half of their capital expenditures (capex) this year were directed toward the poultry business, which covers the construction of new facilities and factories, among others.

He said capex for next year will likely increase as part of the company’s future-oriented vision.

While no plans yet, Bounty Fresh is eyeing to expand its footprint in other countries as it maintains a local consumption-only setup for its domestic operations.

Cheng said the company currently exports its chicken products to other countries through its wholly owned subsidiary, Tegel Group, which is based in New Zealand.

Bounty Fresh’s export markets include the Middle East, Australia, Papua New Guinea, Hong Kong, Singapore, Japan, and several Pacific Islands.

Bounty Fresh also operates in Indonesia, through its startup joint venture company, Bounty Segar.

Meanwhile, Cheng said the recent acquisition of the Bistro Group will further strengthen the integration of Bounty Fresh’s chicken business into new restaurants.

Earlier this month, A. Soriano Corp. (Anscor) sold its 22-percent stake in the Bistro Group to Inoza Business Holdings Inc. for ₱1.91 billion.

Inoza is a newly formed holding company affiliated with Progeny Global Holdings, Inc., which has interests in agribusiness, food manufacturing, and limited-service restaurants (LSRs).

Progeny’s portfolio includes the Bounty Fresh brand and LSR chains Chooks-to-Go and Uling Roasters.