Philippines-based company Fruitas Holdings (FRUIT) has acquired Fly Kitchen to expand its cloud kitchen business.
As per the terms of the deal, FRUIT will purchase all of the outstanding shares of Fly Kitchen.
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Fly Kitchen was established in 2020 by First Georgetown Ventures president Kristopher George Yang and Marco Alquiros, who previously was associated with the Philippines-based restaurant chain Gilligan’s.
Fly Kitchen is currently present in four strategic kitchen locations in Metro Manila, specifically in Makati City, Pasig City, Mandaluyong City and Quezon City.
It caters to more than ten brands, including Hatid Pinoy, Jade Express and Kanin at Sabaw.
The cloud kitchen company has also established good connections with third-party food aggregators like Foodpanda and Grabfood.
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By GlobalDataIn the third quarter of 2022, FRUIT launched its own cloud kitchen brand, Nube Kuxina.
The acquisition will help FRUIT to expedite the growth of its cloud kitchen business in the region.
In a statement, FRUIT said: “By maximising synergies and integrating its own brands into the present Fly Kitchen ecosystem, the acquisition will enable FRUIT to significantly expand its cloud kitchen business and efficiently serve its customers.
“FRUIT eyes to market a number of its own food and beverage items such as its Fruitas fresh juices, Ling Nam, Soy & Bean, Sabroso Lechon and more, via Fly Kitchen.”
