Food and beverage kiosk operator Fruitas Holdings Inc. on Monday said it has acquired the owner of The Tofu Store, while its unit has bought a stall operator that offers Filipino dishes.
The company, in its disclosure, said it is acquiring SoyKingdom Inc., a privately held corporation carrying The Tofu Store brand, specializing in soybean-related products.
Meanwhile, Fruitas unit, Negril Trading Inc., operator of De Original Jamaican Pattie Shop and Juice Bar, is buying the assets of Kuxina, a stall concept specializing in Filipino dishes.
“Our 18th year in the kiosk business is a testament of our ability to innovate and identify suitable additions to our portfolio, unified by our vision to be woven into the fabric of daily lives of Filipinos. We will further strengthen our existing brands and seamlessly integrate our latest acquisitions, broadening our offerings to include both traditional and contemporary Filipino food and drinks,” said Fruitas President and CEO Lester Yu.
The storefronts of The Tofu Store, located in Little Baguio, San Juan, and Santa Mesa Heights, Quezon City, which offer soy milk, taho, tofu and other soybean-related products, will continue to operate, it said.
The Tofu Store has been operating since 2006 and has gained a loyal following among its patrons, which also includes restaurants.
“Fruitas believes that demand for freshly made and conveniently available soymilk, taho, tofu and other soybean-related products will further increase in the Philippines as more Filipinos discover its versatility as a stand-alone beverage or snack, and key ingredient in everyday meals,” the company said.
Negril Trading, meanwhile, will take over the operations of two owned stores of Kuxina, operating under the “Kuxina Filipino Fusion” and “Kuxina Ihaw Na!” brands, in Fruitas’s own Le Village lifestyle food park in E. Rodriguez Sr. Avenue, Quezon City, and continue the franchise arrangements with eight other stores.
Kuxina serves Filipino food dishes with a twist, such as Crispy Kare-Kare, Fried Sinigang, Crispy Dinuguan, usually in a traditional kawali or pan.
Kuxina will complement Sabroso Lechon, Heat Stroke Grill, the company’s other recent acquisition, and rice meals concepts.
The Fruitas Group has expanded its product line by introducing new brands and acquiring the shares or assets of small companies and expanding their operations.
It expanded De Original Jamaican Pattie from around 40 locations to about 160 stores. Fruitas intends to grow its network to 2,000 stores by 2023.