Gerry’s Grill to invest P192M in new storesBy Amy R. Remo
Philippine Daily Inquirer
Homegrown restaurant chain Gerry’s Grill may invest at least P192 million in its expansion program, which calls for the construction of 16 new stores by the end of the year.
In a statement, Gerry’s Grill said the opening of 16 new branches would bring its total number of stores to 68 by yearend. Each branch is expected to cost between P12 million and P15 million, depending on the location.
Most of the branches will be put up through “co-ventures,” it said.
“The demand for dining continues to grow with the economy picking up, and with more malls opening in major cities around the country. We hope to ride on the surge of demand in food service,” said Gerry Apolinario, CEO and president of Prime Pacific Grill Inc. (PPGI), operator of Gerry’s Grill.
Gerry’s Grill has so far opened five new branches at Centrio Mall in Cagayan de Oro City; The District in Imus City, Cavite; Robinsons Place, Palawan; Market! Market! in Taguig; and at Resorts World in Pasay.
For the second half, Gerry’s Grill girds for a robust expansion with 11 more branches set to open.
Next month, the Filipino-owned restaurant will kick off with two branches set to commence operations, namely at The Veranza by KCC in General Santos City, and SM Southmall in Las Piñas.
Others listed among target openings include Tarlac in September, Tuguegarao in October, Ayala-operated Terraces in Fairview, Quezon City in November, and Robinson’s Malolos, Butuan, Laguna and Biñan in December.
“Negotiations for potential expansion to other territories are ongoing and we hope to announce them soon,” added Apolinario. PPGI is looking at opening branches in Thailand and Canada.
On the international front, the food chain has already expanded to three countries, namely Singapore, Qatar and the United States.
PPGI also operates “Kusina ng Gerry’s,” a do-it-yourself, fast-casual restaurant at Lucky Chinatown Mall in Binondo, Manila and Subic.
Short URL: http://business.inquirer.net/?p=128777