Fruitas is continuously expanding, as it promises to do this year. Just today, Fruitas Holdings, Inc. has acquired a soybean company named SoyKingdom, Inc. and a rice-meal operator through its subsidiary, Negril Trading. This is a part of the company’s move to expand its business. According to its disclosure, it told the public that 100% of the outstanding shares of SoyKingdom, Inc. had been acquired. There were also two stores owned by Kuxina that was bought by the company. Knowing that Fruitas is serious when it said it’s going to expand its network, do you think this is another reason why you should continue investing in it?
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If you are not aware of it yet, SoyKingdom, Inc. is the company that runs The Tofu Store. It has been in business for 14 years now. Its main products include soy milk, tofu, taho, and other products related to soybean. Its stores are in San Juan, Little Baguio, and Sta, Mesa Heights in Quezon City. Per the statement made by Fruitas, it is going to buy SoyKingdom’s 1.2 million shares in cash. 100% of this soy store will be in hands of Fruitas from this day onwards. Fruitas upholds the idea that soymilk, taho, tofu, and other-related soybean products will help develop the Philippine market. It will also allow Filipinos to discover more standalone products that may contain soy.
Another business acquired by Fruitas is owned by Kuxina. This company is known to operate Kuxina Filipino Fusion and Kuxina Ihaw Na!, which are situated in Fruitas’ Le Village food park in Quezon City. The subsidiary of Fruitas, Negril Trading, will be one to transact with Kuxina regarding this buyout. This subsidiary holds Jamaican Pattie Shop and Juice Bar for Fruitas. The company stated that Kuxina will be complimentary to Sabroso Lechon, Heat Stroke Grill, and other rice meal stores owned by Fruitas. The transaction with Kuxina will cover eight franchised stores, two stores located in Quezon City, the recipes, the marketing collateral, and leasehold improvements.
Before this acquisition, Fruitas Holdings, Inc. has bought a new business—the Heat Stroke Grill with two branches in Quezon City. The acquisition is already completed and the listed company is now ready to take this in its line of businesses this year. There is no other relevant information about the grilling company and the value of the deal. The only thing Fruitas disclosed is that it was a tenant in the food parks it operates. The company will make this an anchor locator in its upcoming food parks. Also, it is a big contributor to the portfolio of the firm including Sabroso Lechon and the rice meal concepts.