January 6, 2025 | 12:00am
MANILA, Philippines — Food and beverage groups Fruitas Holdings Inc. and Figaro Coffee Group Inc. are ramping up their store network expansion as a recipe for success this year, with consumer spending seen getting a boost from the country’s expected sustained economic growth.
Fruitas president and chief executive officer Lester Yu told The STAR the listed food and beverage kiosk operator is targeting to open 100 stores this 2025, earmarking P500 million in capital expenditures to support its commissary and store expansion.
He said that House of Fruitas is “highly optimistic” about 2025, driven by several factors such as a supportive business environment.
“The policies and initiatives of the current administration foster a thriving business sector, empowering us to achieve continued growth,” Yu said.
“Our made by Filipinos products are world-class and continue to set standards for excellence, showcasing the best of the Philippines,” he said.
Yu said the company is also committed to its unparalleled customer focus.
“We remain dedicated to providing exceptional, customer-centric experiences that go above and beyond expectations,” he said.
Fruitas, a leader in food and beverage stores across multiple formats, operates over 30 brands in its portfolio, with a total of 851 stores nationwide as of end-September 2024.
Late last year, the company ventured into the roasted chicken segment with the acquisition of a majority stake in the owner of the Mang Bok’s brand for P8.86 million.
In 2023, it completed the purchase of 73-year-old legacy brand Ling Nam, marking its entry into the Asian casual dining space.
Its subsidiary Balai ni Fruitas Inc., meanwhile, acquired last year the 40-year-old legacy brand Sugarhouse, allowing the listed bakery operator to expand its product offerings, particularly in the cake category and tap a broader customer base.
Another emerging powerhouse in the food and beverage industry, Figaro, is also gearing up for a more aggressive expansion this year.
A company executive who requested anonymity told The STAR that Figaro is set to spend around P1.2 billion in capital expenditures this year, higher than the almost P1 billion group-wide capex allotted in 2023.
The official said Figaro is targeting to open 40 to 60 stores across all its brands, bulk or 80 percent of which will be the popular Angel’s Pizza brand.
Figaro is hoping to make Angel’s Pizza the country’s number one pizza brand in customer preference and also store count within the next five years.
Figaro, through subsidiary Figaro Coffee Systems Inc., operates and franchises a network of retail restaurants that include Figaro Coffee, Angel’s Pizza, Tien Ma’s, Koobideh Kebab and Café Portofino.
The group operated a total of 213 stores across all brands as of November 2024.
Regina Capital and Development Corp. in a report said that reduced economic growth may limit consumer spending, potentially softening demand for discretionary food and beverage products.
However, it said that international studies on the Philippine economy put the country in the lime light as one of the fastest growing in ASEAN, which presents huge opportunities for growth for companies in the food and beverage industries going forward.
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