LISTED Fruitas Holdings, Inc. continues to grow its business despite the Luzon lockdown with an expanded partnership with Pan de Manila for the distribution of its products.
In a statement Monday, the food and kiosk operator said it expanded its partnership with the bakery chain operator to bring its fresh fruit juices to more than 100 Pan de Manila outlets across the country.
It noted the two companies had signed a partnership before Metro Manila was put under quarantine in early March. This allowed Fruitas to put its fresh fruit juices in more than 20 Pan de Manila stores so far.
Fruitas products are now sold in Pan de Manila stores located in Manila, Mandaluyong, Pasig and Quezon City, among others. Once the quarantine is lifted, the company plans to bring its products to Pan de Manila stores in Cebu as well.
Partnering with Pan De Manila is part of Fruitas’ plans to diversify its distribution channels, thereby driving growth in sales.
“We are extremely excited with our partnership with Pan de Manila as we are both aligned in our mission to serve fresh local products to Filipinos,” Fruitas President and Chief Executive Officer Lester C. Yu was quoted as saying in the statement.
When it did its initial public offering last year, Fruitas said among its focus areas for capital spending in 2020 was network expansion. The company announced late last year it was allocating P600 million for capital expenditures over the next three years.
Fruitas had 1,068 stores as of end-2019. It operates brands such as 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, Kuxina, Shou La Mien Hand Pulled Noodles and Sabroso Lechon.
The company also operates food parks Uno Cinquenta and Le Village and wine store Cellar 150, all located in Quezon City.
As of 2018, the company’s consolidated revenue stood at P1.58 billion, up 37% year on year. Its earnings last year have not been disclosed yet, but it previously said it was projecting revenues of P2 billion for 2019.
Shares in Fruitas at the stock exchange climbed five centavos or 3.76% to P1.38 each on Monday. — Denise A. Valdez