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Fruitas eyes new food parks, over a hundred stores in aggressive expansion

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Jessica Fenol and Cathy Yang, ABS-CBN News

<p>MANILA – Fruitas Holdings Inc plans to open over a hundred stores and two new food parks this year, its chief financial adviser said Tuesday.</p><p>The food and beverage kiosk operator will open some 150 to 250 outlets this year, said director and chief financial adviser Calvin Chua, adding that the firm was &quot;on track&quot; to reach its 2,000-store goal by 2023.</p><p>&quot;In terms of revenue we’re trying to continue our trend last year. In 2019, by first half we were close to 30 percent growth and we would like to continue that,&quot; Chua said in an exclusive interview with ANC&#x27;s The Boss. </p><p>The company is looking to expand its network in Mindanao, which currently accounts for only 5 percent of its total network. Fruitas said it plans to expand this to &quot;double digits&quot; in the next 2 to 3 years, Chua said. </p><p>But he also added that Metro Manila, which accounts for 50 percent of the company&#x27;s total network, still has a lot of room to grow, though growth in the provinces to be much faster. </p><p>Food parks and innovative brands </p><p>Fruitas will also open at least 2 more &quot;lifestyle food parks&quot; this year to cater to consumers who have nowhere to go after malls close, its founder and CEO Lester Yu said. </p><p>&quot;Whenever I go to the provinces to visit our stores, I notice [that after] the closing of big malls, people have nowhere to go. There is a clear opportunity, a clear market for lifestyle food parks as long as we build something wholesome, friendly for families, secure,&quot; Yu said.</p><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/B9jRV9HHaac/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="12" style="background:#FFF;border:0;border-radius:3px;box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15);margin:1px;max-width:540px;min-width:326px;padding:0;width:calc(100% - 2px)"><div style="padding:16px"><div style="display:flex;flex-direction:row;align-items:center"><div style="background-color:#F4F4F4;border-radius:50%;flex-grow:0;height:40px;margin-right:14px;width:40px"> </div><div style="display:flex;flex-direction:column;flex-grow:1;justify-content:center"><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;margin-bottom:6px;width:100px"> </div><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;width:60px"> </div></div></div><div style="padding:19% 0"> </div><div style="display:block;height:50px;margin:0 auto 12px;width:50px"><a href="https://www.instagram.com/p/B9jRV9HHaac/?utm_source=ig_embed&amp;utm_campaign=loading" style="background:#FFFFFF;line-height:0;padding:0 0;text-align:center;text-decoration:none;width:100%" target="_blank"><svg height="50px" version="1.1" viewBox="0 0 60 60" width="50px" xmlns="https://www.w3.org/2000/svg" xmlns:xlink="https://www.w3.org/1999/xlink"><g fill="none" fill-rule="evenodd" stroke="none" stroke-width="1"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 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style="background-color:#F4F4F4;border-radius:50%;height:12.5px;width:12.5px;transform:translateX(0px) translateY(7px)"> </div><div style="background-color:#F4F4F4;height:12.5px;transform:rotate(-45deg) translateX(3px) translateY(1px);width:12.5px;flex-grow:0;margin-right:14px;margin-left:2px"> </div><div style="background-color:#F4F4F4;border-radius:50%;height:12.5px;width:12.5px;transform:translateX(9px) translateY(-18px)"> </div></div><div style="margin-left:8px"><div style="background-color:#F4F4F4;border-radius:50%;flex-grow:0;height:20px;width:20px"> </div><div style="width:0;height:0;border-top:2px solid transparent;border-left:6px solid #f4f4f4;border-bottom:2px solid transparent;transform:translateX(16px) translateY(-4px) rotate(30deg)"> </div></div><div style="margin-left:auto"><div style="width:0px;border-top:8px solid #F4F4F4;border-right:8px solid transparent;transform:translateY(16px)"> </div><div style="background-color:#F4F4F4;flex-grow:0;height:12px;width:16px;transform:translateY(-4px)"> </div><div style="width:0;height:0;border-top:8px solid #F4F4F4;border-left:8px solid transparent;transform:translateY(-4px) translateX(8px)"> </div></div></div><div style="display:flex;flex-direction:column;flex-grow:1;justify-content:center;margin-bottom:24px"><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;margin-bottom:6px;width:224px"> </div><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;width:144px"> </div></div><p style="color:#c9c8cd;font-family:Arial,sans-serif;font-size:14px;line-height:17px;margin-bottom:0;margin-top:8px;overflow:hidden;padding:8px 0 7px;text-align:center;text-overflow:ellipsis;white-space:nowrap"><a href="https://www.instagram.com/p/B9jRV9HHaac/?utm_source=ig_embed&amp;utm_campaign=loading" style="color:#c9c8cd;font-family:Arial,sans-serif;font-size:14px;font-style:normal;font-weight:normal;line-height:17px;text-decoration:none" target="_blank">A post shared by Cathy Yang (@cathyyapyang)</a> on <time dateTime="2020-03-10T11:16:15+00:00" style="font-family:Arial,sans-serif;font-size:14px;line-height:17px">Mar 10, 2020 at 4:16am PDT</time></p></div></blockquote><script async="" src="https://www.instagram.com/embed.js" type="text/javascript"></script><p>Fruitas will also be &quot;aggressive&quot; in growing its Babot&#x27;s Farm brand, which includes a fresh fruit juice line, soy-based products line and fresh milk line, Yu said. </p><p>Fruitas acquired 100 percent of <a href="https://news.abs-cbn.com/business/02/03/20/fruitas-expands-with-fresh-acquisitions">Soykingdom </a>Inc which operates The Tofu Store specializing in soybean-related products.</p><p>Fruitas said its two-pronged growth is anchored on acquisitions and with innovating new brands. </p><p>At least P135 million out of its P820 million IPO proceeds were allocated to acquisitions, Chua said.</p>

<p>The food and beverage kiosk operator will open some 150 to 250 outlets this year, said director and chief financial adviser Calvin Chua, adding that the firm was "on track" to reach its 2,000-store goal by 2023.</p>

The food and beverage kiosk operator will open some 150 to 250 outlets this year, said director and chief financial adviser Calvin Chua, adding that the firm was "on track" to reach its 2,000-store goal by 2023.

Fruitas eyes new food parks, over a hundred stores in aggressive expansion

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Fruitas eyes new food parks, over a hundred stores in aggressive expansion

Jessica Fenol and Cathy Yang,

ABS-CBN News

Published March 10, 2020 05:25 PM PHT

|

Updated March 11, 2020 01:48 PM PHT

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