Fruitas eyes market lead in all 7 key areas of kiosk industry

Fruitas Holdings Inc. on Friday said it is targeting to take market lead in all the seven key areas of the food and beverages kiosk industry.

“Our goal is to be a leader in all the segments we are in,” Fruitas chief financial officer Calvin Chua said in a press briefing in Taguig City.

The newly-listed kiosk operator has 1,036 stores nationwide across its portfolio of brands.

Fruitas is present in seven areas of the kiosk industry, including fruits shakes, juices, meat-filled pastries, buko (coconut juice), lemonade, fries, and coolers.

Chua said Fruitas has an estimated 42% to 43% market share in the seven segments of the kiosk sector.

“But in terms of where we want to be, I think we are looking at each of the seven segments separately,” he said.

“We will use a synergy among our brands to achieve that,” he added.

Fruitas is also looking at acquiring other kiosk brands as part of its growth strategy.

“Definitely, it's something we will spend management time on—a lot of effort. We believe it will accelerate our growth plans,” Chua noted.

“Definitely, acquisitions will be part of the strategy,” he said.

Listed on the Philippine Stock Exchange’s (PSE) main board, Fruitas offered 533,660,000 primary common shares with an over-allotment option of up to 68,340,000 outstanding common shares.

The offer shares account for up to 28.2% of the company’s issued and outstanding shares.

Proceeds from the IPO totaling P1.01 billion will fund Fruitas’ store network expansion and improvement, acquisitions and new concept introductions, commissary expansion, and debt repayment. —VDS, GMA News