A. Soriano Corp. (Anscor) acquired a minority stake in restaurant operator TBG Food Holdings Inc., which is popularly known as The Bistro Group (TBG) for P1.6 billion to expand its investment portfolio.
Anscor said in a disclosure to the Philippine Stock Exchange Thursday it signed a deed of sale with Navegar I (Singapore) Pte. Ltd. to acquire a minority interest in TBG.
TBG is a premium casual restaurant operator in the Philippines, owning and operating over 200 full-service restaurants across 23 brands, including iconic names such as Italianni’s, TGI Friday’s and Texas Roadhouse.
Anscor said the acquisition would expand its investment portfolio in the consumer sector, which is one of the most attractive and resilient market segments in the country.
