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Tag: Shakey

  • Shakey’s Pizza Sets Ambitious Goal: 430 New Locations Planned for 2025 Expansion

    Shakey’s Pizza Sets Ambitious Goal: 430 New Locations Planned for 2025 Expansion

    Shakey’s Pizza Asia Ventures Inc. (SPAVI) is on a sizeable growth trajectory, aiming to launch an impressive 430 new stores this year. Following the first quarter, the company reported a global total of 2,671 stores, buoyed by the addition of 52 outlets primarily under the popular Potato Corner brand.

    Since Q1 2024, SPAVI has expanded its footprint with 439 new openings, including 130 international locations, bringing its overseas branches to nearly 20% of its total network. This push means more pizza lovers can enjoy their slices far and wide!

    During the first quarter, SPAVI announced a net income after tax of PHP182 million—a tantalizing 6% increase from the previous year. Same-store sales also saw a positive uptick, growing by 2%, or an adjusted 4% considering the leap year and the early Easter holiday in 2024. The company has also rolled out its 50th anniversary campaign, which aims to attract even more customers as they celebrate this milestone.

    Looking ahead, SPAVI remains optimistic about reaching its ambitious targets for double-digit revenue and profit growth by 2025. One can almost hear the pizza ovens heating up in anticipation!

    Questions & Answers

    What is the total number of stores SPAVI plans to open this year?
    SPAVI is poised to open 430 new stores in 2024.

    How much was the net income after tax for Q1 2024?
    The company reported a net income of PHP182 million for the first quarter.

    What percentage of SPAVI’s network is made up of international branches?
    International branches now account for nearly 20% of SPAVI’s total store network.

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  • Shakey’s Pizza Asia Ventures acquires Restaurants

    Shakey’s Pizza Asia Ventures acquires Restaurants

    Shakey’s Pizza Asia Ventures has fully acquired local Philippines restaurant chain Peri-Peri Charcoal Chicken.

    The firm has also recently signed a memorandum of understanding to buy artisanal pizza brand Project Pie, including all assets and intellectual property. The brand was previously owned by Shakey’s parent firm Century Pacific Group and Singaporean sovereign wealth fund GIC.

    As of June 1, Shakey’s is now the owner-operator of all Peri Peri stores owned by the company, as well as brand owner and franchisor of the remaining outlets.

    Peri-Peri now has 23 locations throughout the Philippines.

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  • Shakey’s to buy Peri-Peri Charcoal Chicken chain

    Shakey’s to buy Peri-Peri Charcoal Chicken chain

    Philippines restaurant chain operator Shakey’s Pizza Asia is buying the Peri-Peri Charcoal Chicken brand.

    The firm filed details of the deal with Peri-Peri’s operator I-Foods at the Philippine Stock Exchange this week, although the transaction cost has not been released. A representative for the business said the price was not substantial relative to the firm’s market capitalisation, and that the acquisition will be financed by a combination of internally generated cash and debt, most likely to be completed by mid-year.

    The deal is expected to affect Shakey’s bottom line this year, but boost profits in the long run.

    Peri-Peri Charcoal Chicken operates 23 outlets in metropolitan Manila, 40 per cent of which are run under franchise agreements.

    “The brand now has a strong following and recently gained even more traction,” said Shakey’s president and CEO Vicente Gregorio, “evident in its strong same-store sales growth last year amidst the more challenging macroeconomic environment, and the amount of interest in new stores from potential lessors and franchisees.”

    “We are excited by the potential of Peri to scale,” added  Shakey’s chairman Christopher Po. “We expect it to be an important future growth driver for our fast casual chain restaurant business.”

    The firm also has plans to expand its core offering – US brand Shakey’s Pizza, for which the firm has perpetual rights in several broad territories, including most of Asia. It plans to open 20 new branches this year, which will see it operating 248 locations by next year.

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  • Shakey’s Pizza Asia Ventures moving into UAE

    Shakey’s Pizza Asia Ventures moving into UAE

    Philippine pizza-parlor chain Shakey’s Pizza Asia Ventures (SPAVI) is expanding its overseas footprint with a move into the United Arab Emirates next year.

    Through subsidiary Shakey’s Pizza Regional Foods, SPAVI has signed an area development agreement with Dubai-based Al Jeel Capital to build at least 10 Shakey’s Pizza outlets in the UAE over five years.

    In Dubai, the first store is scheduled to open in the first half of next year.

    It is the second international franchise granted by SPAVI, which owns perpetual rights to the Shakey’s brand for Asia (excluding Japan and Malaysia), Australia, China, the Middle East and Oceania. The new deal brings to 20 the number of outlets scheduled to open over the next few years. SPAVI last year signed an agreement to open at least 10 Shakey’s stores in Kuwait.

    “Dubai, UAE and the rest of the Middle East are great markets for us – not only are there strong Filipino communities but also tremendous growth opportunities within the mainstream markets,” says SPAVI president Vic Gregorio.

    Founded in California in 1954 and the first franchise pizza chain in the US, Shakey’s Pizza launched in the Philippines in 1975. As at the end of March, the group had 189 stores in the Philippines.

    Shakey’s Asia Food Holdings, a company owned by the Po family’s Century Pacific Group, Arran Investments Private and the Prieto family, acquired 100 per cent interest in SPAVI in April last year. In October, SPAVI acquired 100 per cent ownership of Bakemasters, Shakey’s International and Golden Gourmet.

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