Pancake House eyeing more acquisitions
Pancake House Inc., the listed operator of the country’s biggest casual dining group, is looking return to acquisition mode in 2014, three years after it bought 100 percent of the Yellow Cab pizza chain.
But this time around, Pancake House will only be considering restaurant groups that earn about P2 billion annually in system-wide sales, chair and CEO Martin Lorenzo said. He said this would be a chain with about 60 stores.
Lorenzo, who clarified that there are no ongoing talks at this point, said there are “a few” opportunities to buy companies of this size. The price point is also an important factor, as Pancake House would like to maintain its traditional market that pays about P250 and above per meal, he said.