BIZ BUZZ: Major resto chain for sale | Inquirer Business

BIZ BUZZ: Major resto chain for sale

/ 09:46 AM December 20, 2023

A major restaurant group could be close to a sale if its owners agree to one of several offers on the table.

A Biz Buzz source said interested buyers for the group were foreign and local parties willing to pay “north” of $150 million (P8.4 billion) to acquire the company, best known for its US hamburger and Italian casual restaurants often found in the country’s major malls.

Interested parties also include private equity funds, although this group has already received private equity money in the past via a firm with a Spanish-sounding name based in Makati City.

Article continues after this advertisement

“These are serious buyers. But of course, the board is still evaluating whether to sell or not,” the source said.

FEATURED STORIES

While the company has been on the selling block for some time, we’re told there was no hurry to complete a deal given the resurgence of restaurants in the postpandemic era.

The group remains on expansion mode as it continues to open new branches of a US donut chain that made its Philippine debut last year. —Miguel R. Camus INQ

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Biz Buzz, Restaurant, Sale

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.