MANILA, Philippines – Leading food & beverage kiosk operator, Fruitas Holdings Inc., has crossed the 1,000 store mark with its aggressive store network expansion.
As of November 26, Fruitas has 1,036 stores across the country, with new kiosks having recently opened in Metro Manila and key provinces like Cavite, Laguna, Rizal, Bulacan, Tarlac, Zambales, Cebu, Iloilo, Aklan, Davao and Cagayan De Oro.
Fruitas also re-launched Coffee Talk, a coffee and tea kiosk concept. With its re-launching, the Group reinforces its commitment to create new brands and concepts to cater to the evolving demand of Filipino consumers. Fruitas also recently started to sell some of our bottled fruit juices on open refrigerator shelves inside the supermarkets of Landmark.
Last year, Fruitas ended with 930 stores nationwide. It ended June 2019 with 949 stores, but has since added 87 stores in less than 5 months.
Fruitas will debut on the Philippine Stock Exchange on November 29 under the ticker symbol “FRUIT”. The IPO was well-received by retail and institutional investors resulting in an oversubscription of the offering. Proceeds from the IPO will finance the company’s store network expansion and the improvement of existing stores. Raised funds will also pave the way for the introduction of new concepts and in the acquisition of future brands, commissary expansion and debt repayment.
“We are happy with the results of the offering of Fruitas. The broker tranche was more than 2.5 times oversubscribed, while the local small investor tranche was a record amount for a Philippine IPO. The exceptional performance and positive response from the market prove that the public believes in Fruitas’ strong fundamentals and aggressive expansion plans in the country,” Executive Vice President of First Metro Investment Corporation Daniel D. Camacho said.
The company started from a single kiosk stand in SM Manila back in 2002. After 17 years, Fruitas continues to be a front-runner in the industry and has cemented its position as a market leader across four business segments in the kiosk industry—fruit shakes under Fruitas, coconut beverages under Buko ni Fruitas, meat-filled pastries under De Original Jamaican Pattie, and lemonade Johnn Lemon, based on a recent study by the University of Asia & Pacific. Fruitas is also behind the well-loved Filipino brands such as Sabroso Lechon, Juice Avenue, Black Pearl, and lifestyle food parks like Le Village and Uno Cinquenta in Quezon City, among others.