Newly listed Fruitas Holdings is taking on a bigger challenge as it plans to aggressively expand its operations this year.
In a disclosure to the local bourse, the company said it had acquired the assets of food retailer Heat Stroke Grill and bought a property in Sasa, Davao City, to prepare for expansion in Mindanao.
These significant strides are expected to bring the leading food and beverage kiosk operator to bigger heights, with over 20 brands already in its portfolio.
“The recent acquisition is a key addition to its food portfolio, which will complement Sabroso Lechon and its rice meals concepts,” the disclosure said. “It intends to replicate the success of its past acquisitions, Sabroso Lechon and De Original Jamaican Pattie Shop and Juice Bar.”
Heat Stroke Grill has two outlets located in Fruitas food parks in Quezon City. This acquisition is in line with the strategy of the company for its food parks, viewing them as incubators for new concepts.
Moreover, the new property in Davao City will be initially used as an office and warehouse space in preparation for the company’s fast-growing operations in Mindanao, where 6 percent of the company’s stores are situated.
Currently, Fruitas has 1,068 stores and targets to grow its network to 2,000 stores by 2023. Aside from its flagship brand Fruitas Fresh from Babot’s Farm, it offers other drink variants such as Buko Loco, Buko ni Fruitas, John Lemon and The Mango Farm. INQ