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Monde Nissin to acquire 15 percent stake in Figaro Coffee Group

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Monde Nissin to acquire 15 percent stake in Figaro Coffee Group" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/business/01/26/20230126-figaro-coffee-group.jpg"/></figure></div><p>MANILA - Monde Nissin Corp said on Thursday it would acquire 15 percent of Figaro Coffee Group Inc for P820.3 million.</p><p>The acquisition is equivalent to P1 per share, the Lucky Me instant noodle maker told the stock exchange. </p><p>Proceeds of the subscription shall be used by Figaro to finance its expansion plans, Monde Nissin said.</p><p>&quot;We are excited with the opportunity to become shareholders in the Figaro Coffee Group as it provides a greater exposure to the food service sector which we view as potentially attractive avenue for further growth both here in the Philippines and abroad,&quot; Mondo Nissin CEO Henry Soesanto said.</p><p>&quot;We believe our scale may help enhance the procurement capabilities of the Figaro Group which is rapidly growing,&quot; he added.</p><p>Monde Nissin&#x27;s leadership in the food sector, strength in manufacturing, and timeless brand equity can help &quot;solidify [Figaro&#x27;s] position as a very strong and stable F&amp;B company,&quot; Figaro Coffee Group Chairman Emeritus Jerry Liu said.</p><p>Figaro also operates and franchises brands such as Angel&#x27;s Pizza, Tien Ma&#x27;s as well as Cafe Portofino. It became public in 2022.</p><p>Meanwhile, Monde Nissin Corp&#x27;s portfolio also includes SkyFlakes, Fita, Quorn and other baked goods. It listed on the Philippine Stock Exchange in 2021.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/01/21/lucky-me-monde-nissin-debuts-ipo-pse">Lucky Me! maker Monde Nissin debuts on PSE after blockbuster IPO</a></li>	<li><a href="https://news.abs-cbn.com/business/11/09/22/monde-nissin-sales-rise-but-core-net-income-falls-in-jan-sept">Monde Nissin 9-month sales rise but core net income falls amid higher costs</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1697236" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Monde Nissin Corp said on Thursday it would acquire 15 percent of Figaro Coffee Group Inc for P820.3 million.