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Fruitas enters bakery business

Food and beverage kiosk operator Fruitas Holdings Inc. on Monday announced plans to expand its portfolio as it will open several standalone Babot's Panaderya to offer freshly baked pan de sal and other bread products.

Fruitas seeks to penetrate the P200-billion bread market leveraging on the baking expertise and capacity of Negril Trading Inc. which houses its De Original Jamaican Pattie brand. It will put up four initial bakeries in Metro Manila and one in the provincial area, but did not specify the location.

"Pan de sal is a staple in Filipinos' daily diet," Fruitas president and chief executive officer Lester Yu said in an emailed statement.

"Our entry into the bakery business is a natural step to achieve our vision of having every Filipino household consume at least one Fruitas product every day. At the same time, freshly baked bread is a perfect addition to our community stores," he added.

Brands of the company include Black Pearl, Buko Loco, Buko ni Fruitas, House of Fruitas, De Original Jamaican Pattie Shop and Juice Bar, Johnn Lemon, Juice Avenue, Sabroso Lechon, Tea Rex, and The Mango Farm.

Aside from Negril Trading, Fruitas counts as subsidiaries Buko Ni Fruitas Inc. and Frutasgroup Incorporated. It also operated two food parks in Quezon City, and indirectly owns Green Empire International Limited and Oceanic Luck Limited.

The company generated P1.2 billion from its initial public offering (IPO) in 2019, with proceeds allocated to network and commissary expansion, acquisition opportunities, and debt repayment.—AOL, GMA News