Businessman Lester Yu’s Balai Ni Fruitas is ramping up expansion in Cebu, announcing a partnership with the Gaisano family to distribute products of its flagship bakery store, Balai Pandesal.
The company said in a stock exchange filing on Wednesday its products would now be sold in the Gaisano Country Mall, Gaisano Main Colon, and Gaisano Market Square.
The company is looking at further growing its reach through tie-ups with other retailers.
“Additional Metro Gaisano supermarkets are expected to carry Balai Pandesal products soon. These include branches in Ayala Center Cebu, Super Metro Colon, Metro Colon, Super Metro Lapu, and Super Metro Mambaling,” Balai Ni Fruitas said in the filing.
The company is boosting distribution alongside an aggressive store expansion strategy. Balai Ni Fruitas previously announced plans for the bakery business to reach 200 outlets by 2026.
“We reiterate our vision for Balai to be part of each Filipino household’s daily habit. We have further expanded the distribution of our baked goods outside our stores and we see great prospects in this initiative,” said Yu, the CEO and president of Balai Ni Fruitas.
“We are further exploring opportunities to make Balai Pandesal more accessible to Filipinos across the nation,” he added.
Balai Pandesal’s anchore store in Cebu is located along Cabarrubias St., Tisa in Cebu City. It also sells products through affiliate outlets such as Soy & Bean, House of Fruitas, and Fruitas House of Desserts.
The company, which listed on the Philippine Stock Exchange last year, saw earnings bounce higher as pandemic restrictions were eased last year.
From January to September, net income income reached P23.2 million, up 900 percent, while revenues jumped 164 percent to P234.1 million.
Gains were bolstered by the opening of new stores and the addition of distribution channels for its bread business.
Balai Pandesal had 43 outlets after opening seven new stores in Metro Manila and Metro Cebu. It also operates 39 Buko Ni Fruitas stores and nine Fruitas House of Desserts stores.