Months after venturing into the cake business, Fruitas Holdings Inc. will soon enter the chicken category by acquiring legacy brand Mang Bok’s Lechon Manok, further diversifying its product offering.
A source familiar with the matter confirmed to the Inquirer that Fruitas, the holding firm led by businessman Lester Yu that operates bakery brand Balai Ni Fruitas, will close the deal to take over the 20-year-old roasted chicken producer by the end of November.
At its peak, Mang Bok’s had at least 80 branches, but challenges triggered by the pandemic have caused the number to dwindle to less than 10, according to the source.
Fruitas was able to negotiate a deal that would allow it to buy Mang Bok’s at an “unbelievably low” price.
“We will open around three new branches this year and put Mang Bok’s in good locations,” the source said, hinting that the new branches will be opened in Metro Manila.
“We hope to revive and build the reputation of legacy brands,” the source explained.
Four years ago, Mang Bok’s joined JC Worldwide Franchise Inc., whose flagship brand is Siomai King.
JC Worldwide previously offered Mang Bok’s for franchising within Metro Manila for around half a million pesos from P800,000 originally, although it is currently labeled “out of stock” on its website.
Once Mang Bok’s is fully integrated into Fruitas, the latter hopes to get more franchisees and slowly boost the chicken brand’s presence.
This marks the first time that Fruitas will venture into the chicken category, but Mang Bok’s is the second legacy brand it plans to “save” in the span of a year.
In April, Balai Ni Fruitas bought cake and pastry maker Sugarhouse to expand its product offering.
The 40-year-old brand currently has only two branches: Santolan Town Plaza in San Juan and Power Plant Mall in Makati City.
Yu earlier said they planned to open a branch in Cebu City by next year while boosting Sugarhouse’s digital presence in the National Capital Region.
Last year, Fruitas also acquired noodle house Ling Nam and expanded into the cloud kitchen business through Fly Kitchen.
Its other brands include Buko Ni Fruitas, De Original Jamaican Pattie and Johnn Lemon.