Food and beverage kiosk operator Fruitas Holdings Inc. said it will expand its store network by opening more stand-alone stores and form joint venture partnerships despite the pandemic.
Fruitas said in a disclosure to the stock exchange Wednesday it was securing 25 new locations for its Babot’s Farm and Soy & Bean brands. These stores, which will also serve as hubs for its CocoDelivery subsidiary, are expected to be operational before the end of the year.
The company said it was also aggressively expanding its product line through agreements with companies that would lead to more synergies in the future. Fruitas signed an agreement to carry Carmen’s Best Ice Cream, the Philippines’ premium ice cream, in selected locations.
It also signed a supply arrangement for Jim’s Recipe sponge cake originally from Malaysia and to have a Soy & Bean house brand of hopia delicacies produced by one of the oldest Chinese bakeries in Manila. A new production facility for Soy & Bean soy products is ready to come on line.