Cirtek Holdings Philippines chairman Jerry Liu plans to list the shares of his holding company Camerton Inc. as well as his food business, which owns Figaro coffee and Angel’s Pizza, with the Philippine Stock Exchange over the next three years.
Liu said in an interview at the sidelines of Cirtek investors’ briefing Camerton had a big potential to be listed because all subsidiaries under the holding company, including Cirtek, and the food, pharmaceutical insurance businesses were profitable and and on an expansion mode.
“Overall, Camereton Inc. is a very strong holding company and all its subsidiaries are earnings profits,” Liu said.
He said the company was also open to listing its food business under Figaro Coffee Systems Inc.
For the food business, which has over 170 stores across Figaro and Angel’s Pizza, Liu said the group planned to expand the network through acquisitions.
“Maybe we can grow through acquisition. We are interested a little bit more on fast-food chain and we are also interested in snack food business,” Liu said.
He said Cameron was in talks with two parties for the planned acquisition.
The company is also looking to bring Figaro to more countries outside the Philippines. Liu cited a strong interest from Singapore, Malaysia and China for the Figaro brand.
Figaro has stores in the nine countries, including the Middle East and Guam.
Liu said Figaro had become a food supplier to several airlines, enabling it to expand the commissary business.