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Food and beverage kiosk leader Fruitas Holdings files for P1.2 billion IPO

9 SEPTEMBER 2019 – Leading food and beverage kiosk operator Fruitas Holdings, Inc. (Fruitas) has filed for its P1.2 billion initial public offering (IPO) with the Securities and Exchange Commission to fund its store network expansion and store improvement, commissary expansion, expansion of its foodpark business, acquisitions, introduction of new concepts, and debt repayment.

The company expressed that it is planning to offer up to 533,660,000 primary common shares with an over-allotment option of up to 68,340,000 outstanding common shares at a maximum price of P1.99 each. Gross primary proceeds can reach a maximum of P1.06 billion and the total IPO could reach P1.2 billion. 

Post-offer, public float can reach up to 28.2% of the company’s total issued shares. 

“The proceeds will be used to fund our store network expansion across the Philippines and expand our commissary to serve more customers. New capital will also be used towards acquisition of foodservice businesses and introduction of new concepts which have a strategic fit with our operations.” Fruitas President and CEO Lester Yu said. “We view the potential listing on the Philippine Stock Exchange as part of our growth journey and are excited to have taken the first step by filing our registration statement.”

Subject to regulatory approvals, Fruitas intends to run the offer period from November 18 to 22 and targets to list before the end of the year.

Over the past years, the Group has aggressively expanded from more than 400 stores as of end of 2016 to 949 stores as of Jun 30, 2019. In 2018, Fruitas reported P1.58 billion in consolidated revenue, a 37% increase from its P1.15 billion revenue in 2017, which was driven by strong performance of its stores.

Fruitas currently has over 20 brands in its portfolio, including household names like Fruitas Fresh From Babot’s Farm, Buko Loco, Juice Avenue, Buko Ni Fruitas, Johnn Lemon, Black Pearl, and food parks like Uno Cinquenta in Maginhawa and Le Village The Lifestyle Park in E. Rodriguez Sr. both situated in Quezon City. Fruitas also acquired Negril Trading, the company housing De Original Jamaican Pattie Shop and Juice Bar, in 2015 and the assets of Sabroso Lechon in 2018.

BDO Capital & Investment Corp. and First Metro Investment Corporation have been appointed as joint issue managers, joint bookrunners and joint lead underwriters for the offering.



Fruitas Holdings, Inc. is a leading group in the food and beverage kiosk industry in the Philippines. Since the first Fruitas stall opened in 2002, the group has grown to over 900 stores all over the country and over 20 brands in its portfolio, which includes well-loved food concepts Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie Shop and Juice Bar, Johnn Lemon, Juice Avenue, Black Pearl, Friends Fries, The Mango Farm, 7,107 Halo Halo Islands, Shou Hand Pulled Noodles, and Sabroso Lechon.

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