Fruitas diversifies portfolio
Leading food and beverage kiosk operator Fruitas Holdings Inc. is debuting on the grilled chicken business as part of its portfolio diversification.
The grilled chicken business is among the two new concepts that the newly listed company will bring to the market in the near future. The other one is a fresh store concept under the Babot’s Farm brand, Fruitas disclosed to the Philippine Stock Exchange (PSE) on Wednesday.
“Babot’s Farm is a collection of fresh products which Fruitas is excited to serve to Filipino consumers. Our mission is to make fresh products easily accessible to Filipinos, thus bringing the farm closer to them,” Fruitas president and chief executive officer Lester Yu said.
“We are equally excited with our impending entry into the chicken business. We are confident that we can enter the market in a cost-effective manner yet come up with a well-loved product,” he added.
Babot’s Farm will initially have three major rows of fresh products in its own portfolio, including a buko beverage line; a new soy line under Soy & Bean, products from its recent acquisition, The Tofu Store, and fresh dairy.
Soy & Bean’s soy-based products will initially include fresh soy milk, tofu, “taho” and soy-based ice cream.
The grilled chicken concept will have a “twist on presentation and flavor.” It will be offered through Fruitas’ kiosk network or by independently setting up strategic stores.
Fruitas, which trades on the PSE under the ticker FRUIT, intends to leverage off its recent acquisitions, Heat Stroke Grill and Kuxina Ihaw Na.
“Chicken has proven to be the leading protein offered in food service in the Philippines and FRUIT believes it can carve a niche in this wide and fast-growing market segment,” the disclosure said.
From a single Fruitas stall opened in 2002, the group ended last year with 1,068 stores across the country and over 20 brands in its portfolio, which includes Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, Juice Avenue, Black Pearl, Friends Fries, The Mango Farm, 7,107 Halo Halo Islands, Shou La Mien Hand Pulled Noodles, and Sabroso Lechon.
