Manila, Philippines – Fruitas Holdings, Inc., a leading operator of multi-format food and beverage stores listed on the Philippine Stock Exchange under the symbol “FRUIT”, is entering the roasted chicken segment. This will be implemented through an investment by its wholly-owned subsidiary Negril Trading Inc. in a company which will acquire the assets related to the Mang Bok’s business.
Mang Bok’s is a well-loved “ulam” brand of Filipinos. Since its inception in September 2002, it has been catering to Filipinos by offering good-tasting, value-for-money and quality food. Known for its signature Roasted Chicken and Roasted Pork Belly (Liempo), cooked fresh daily to perfection, making every bite juicy, flavorful, and satisfying.
On November 19, 2024, Negril Trading Inc. became a 60% shareholder of Bigboks Enterprises Inc., which served as the acquisition vehicle for the assets related to the Mang Bok’s business. The transaction represents the Fruitas Group’s entry into the roasted chicken segment, broadening the product offerings under the House of Fruitas. This is expected to create synergies across Fruitas brands, enhancing overall customer experience and satisfaction. The Group also aims to leverage its extensive retail network and operational expertise to elevate the brand while maintaining the quality and taste of Mang Bok’s that the Filipino consumers have come to love.
The acquisition includes all assets, including inventories, equipment, leasehold improvement, transportation equipment, if any, intellectual property rights/trademark (including brand registrations, know-how, recipes for all past and current products and certain products under research and development of Mang Bok’s, and process/menu manual), franchise ownership grant/rights, contractual rights to suppliers and lessor including security deposits at the time of acquisition.
“Our family continues to grow larger and more fruitful. Bringing Mang Bok’s into the diverse portfolio of House of Fruitas is an exciting opportunity for us. This acquisition perfectly aligns with our commitment to excellence and our customer-centricity approach. We are dedicated to providing delicious and accessible food options that truly resonate with the heart of Filipino culture,” said Mr. Lester C. Yu, Fruitas Holdings, Inc. President and Chief Executive Officer.
