Leading food and beverage kiosk operator Fruitas Holdings Inc. has teamed up with Bukidnon Milk Co., operator of Mindanao’s biggest and only pasture-fed dairy farm, in selling fresh milk and yogurt products.
Fruitas said in a disclosure to the stock exchange Wednesday the company expanded its partnership with Bukidnon Milk, making it now the exclusive carrier of its products through carts, kiosks, and stalls.
Fruitas initially carried Bukidnon Milk fresh milk and yogurt on its CocoDelivery platform.
The company earlier reported plans to launch a fresh store concept under the Babot’s Farm brand that will prominently feature Bukidnon Milk products alongside Fruitas’ leading buko beverage line, and Soy & Bean’s soy-based products.
“We have received very positive feedback on Bukidnon Milk Company products from our customers. Dairy is a staple component of a balanced diet and we are glad to partner with a top-notch local producer of fresh dairy. This new collaboration is in line with our vision for Fruitas to be synonymous with fresh products and become an essential part of Filipinos’ daily lives,” said Fruitas president and chief executive Lester Yu.
As the COVID-19 pandemic continues to present challenges to all businesses from large conglomerates to small operators, Fruitas said it was committed to mitigate the impact by adding new revenue and profit streams.
The company last year raised P820 million in net proceeds from an initial public offering.
Since its IPO, Fruitas has completed the acquisition of Heat Stroke Grill, Kuxina, The Tofu Store and CocoDelivery, and forged partnerships with Pan de Manila and Bukidnon Milk, making the company bigger and stronger.
“Fruitas’ strong financial standing and recent strategic initiatives allow it to be well-prepared to capture opportunities going forward,” the company said.
Fruitas as of end 2019 operated 1,068 stores across the country and over 20 brands in its portfolio. These include Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, Juice Avenue, Black Pearl, Friends Fries, The Mango Farm, 7,107 Halo Halo Islands, Tea Rex, Kuxina, Shou La Mien Hand Pulled Noodles and Sabroso Lechon. It recently launched the Soy & Bean soy product line.
Share price of Fruitas rose 6.7 percent Wednesday to P1.44.
