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Tag: Shakey’s Pizza

  • Shakey’s Pizza to open 20 more stores in Asia

    Shakey’s Pizza to open 20 more stores in Asia

    Philippines fast-food operator Shakey’s Pizza Asia says it plans to continue expansion across the region by opening 20 new stores this year. The openings will see the brand’s total outlets increase to 248 locations, according to a statement released by the firm on Wednesday. “We continue to see consumer spending fueling the Philippine economy, which is still one of Southeast Asia’s fastest-growing markets,” said president and CEO Vicente L Gregorio.

    Shakeys reached its target of opening 20 new stores last year, expanding mostly outside first-tier cities. “We are focused on expanding outside Metro Manila where we see great potential in terms of demand for the premium yet affordable dining experience we provide. We also tapped more local partners … to run our provincial operations and to ensure that we have on-the-ground accountability even in farther-flung areas,” said Gregorio.

    Shakeys has operated in the Philippines since 1975 under Shakey’s Pizza Asia, which has stores in several international territories and opened its second Dubai location last year with record-breaking first-day sales.

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  • Shakey’s Pizza Asia first Dubai store opened

    Shakey’s Pizza Asia first Dubai store opened

    Shakey’s Pizza Asia Ventures has followed archrival Yellow Cab into Dubai.

    The Philippine pizza brand says it has opened a store targeting the ranks of Filipinos working in the Middle East.

    Shakey’s Pizza Asia’s Dubai franchisee Aljeel Capital plans to open 10 stores over the next five years.

    “Dubai, UAE, and the rest of the Middle East are great markets for us,” Shakey’s Pizza Asia Ventures president and CEO Vic Gregorio said in a stock exchange filing.

    Shakey’s Pizza Asia Ventures has the rights to the US brand in Asia (excluding Malaysia and Japan), Australia, the Middle East, China and Oceania. Besides moving into offshore markets, the company plans to open a further 20 stores in the Philippines by 2020.

    Founded in 1954, Shakeys was the first US pizza chain to adopt a franchise model. But its growth since has been slow compared to its rivals, and store numbers in North America have shrunk to the double-digits. The Philippines is the brand’s biggest market with more than 160 stores already.

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  • Golden first quarter for Shakey’s Pizza

    Golden first quarter for Shakey’s Pizza

    Pizza parlour chain Shakey’s Pizza Asia Ventures grew its first-quarter net profit by 6.4 per cent to PHP184 million (US$3.5 million), even as higher input costs tempered the impact of double-digit growth.

    Shakey’s grew its first-quarter systemwide sales by 10 per cent to PHP2.2 billion. This was mainly attributed to a 2 per cent growth in same-store sales and a continued store network expansion strategy.

    Meanwhile, the company says earnings growth has been curbed by cost pressures relative to the previous year.

    “We continue to face a competitive environment, but this has been mitigated by the success of our marketing initiatives and the efforts we have made to improve the overall Shakey’s brand experience,” says president/chief executive Vicente Gregorio.

    For the three months to the end of March, the company grew total revenues by 6 per cent to PHP1.8 billion.

    During the quarter, Shakey’s added four outlets to take its nationwide store count to 212. It intends to open another 16 branches and is on track to taking its total Philippine store network to 228 by year end.

    Gregorio says the company is taking the brand to more locations beyond Metro Manila.

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  • Philippines’ Shakey’s Pizza plans $113m IPO

    Philippines’ Shakey’s Pizza plans $113m IPO

    Shakey’s Pizza Ventures (Spavi) aims to raise more than P5.5 billion (US$113 million) through an initial public offering (IPO) in the Philippine Stock Exchange this year.

    The restaurant chain has filed a prospectus with the Securities and Exchange Commission (SEC)
    to sell up to 352 million primary and secondary shares, including 46 million shares at P115.58 apiece, to meet excess demand.

    Spavi seeks to finalise the offer price in November, and targets its projected listing in December.

    “We intend to use the offer proceeds to expand our in-house commissary, meet working capital requirements, look at potential acquisitions and repay debt,” the company says.

    The chain has appointed Deutsche Bank as sole global coordinator and bookrunner for the deal, while BDO Capital and Investment Corp, and First Metro Investment Corp will serve as joint lead managers and underwriters. Evercore is the financial adviser.

    Majority owned by the Po family conglomerate Century Pacific Group (CPGI), Spavi owns the rights to the Shakey’s trademark in the Philippines. CPGI is the parent company of Century Pacific Food(CNPF).

    To create Shakey’s trademark thin-crust pizza, Spavi’s in-house commissary supplies the bulk of its proprietary pizza dough and crust. The global pizza franchise originated in the US in 1954, expanding to Canada, Mexico, Japan and, in 1975, the Philippines. It now has more than 170 stores in the Philippines.

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  • Shakey’s Philippines sold to investment groups

    Shakey’s Philippines sold to investment groups

    Philippines conglomerate Century Pacific Group has partnered with Singapore’s sovereign investor GIC to buy the parent of Shakey’s Philippines, the pizza restaurant chain.

    The tie-up will acquire majority of of the business from the Prieto family, which will continue to hold a minority stake in International Family Food Services (IFFSI), the owner and operator of the Shakey’s Philippines.

    “We are excited about this opportunity to invest in Shakey’s as we are believers in the potential of the continued growth of the Philippine middle class,” Century Pacific president Christopher Po said in a statement.

    The transaction also includes the acquisition of Philippine franchise for US artisan pizza Project Pie as well as Bakemasters, one of Shakey’s suppliers of bakery products.

    The acquisition of Shakey’s, which had about 170 stores in the Philippines at the end of 2015, is the second partnership between Century Pacific’s controlling Po family and GIC. In May 2014, the Singaporean fund converted a P3.4 billion ($73 million) loan into a 10 per cent stake in Century Pacific Food, the group’s canned goods maker.

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