FRUITAS HOLDINGS, Inc. (Fruitas) is expanding its business offers with the introduction of two new store concepts powered by its recent acquisitions.
In a statement Wednesday, the listed food and beverage kiosk operator said it would be venturing into a grilled chicken business and would be launching a fresh store concept under the Babot’s Farm brand.
The grilled chicken business will take the form of either a kiosk network or strategically put-up stores, as Fruitas aims to tap a “wide and fast-growing market segment.”
This venture would make use of the company’s acquisition of grilled food provider Heat Stroke Grill and food store Kuxina Ihaw Na, located in the company’s Le Village food park in Quezon City.
“We are… 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,” Fruitas President and Chief Executive Officer Lester C. Yu said in the statement.
For the fresh store concept, Fruitas will be introducing three major verticals of fresh products to be sold under Babot’s Farm: a buko (coconut) beverage line, a new soy line under Soy & Bean and fresh dairy. The soy line will make use of Fruitas’ recent acquisition of The Tofu Store’s operator SoyKingdom Inc..
“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,” Mr. Yu added.
Aside from the new concepts, Fruitas currently operates more than 20 food and beverage brands such as Fruitas Fresh from Babot’s Farm, Buko Loco, De Original Jamaican Pattie, John Lemon, Shou La Mien Hand Pulled Noodles, Sabroso Lechon and more. It had 1,068 stores in its nationwide network at the end of 2019.
Shares in Fruitas at the stock exchange dipped five centavos or 2.96% to P1.64 each on Wednesday. — Denise A. Valdez