Fruitas Holdings (FRUIT), a prominent company based in the Philippines, has made a strategic move to enhance its cloud kitchen business through the acquisition of Fly Kitchen.
Under the terms of the agreement, FRUIT will acquire all outstanding shares of Fly Kitchen, solidifying its position in the market. Fly Kitchen, founded in 2020 by Kristopher George Yang, President of First Georgetown Ventures, and Marco Alquiros, formerly associated with the well-known Philippine restaurant chain Gilligan’s, has quickly established a presence in four key locations in Metro Manila: Makati City, Pasig City, Mandaluyong City, and Quezon City.
Fly Kitchen has successfully partnered with over ten brands, including Hatid Pinoy, Jade Express, and Kanin at Sabaw, catering to a diverse range of culinary preferences. Furthermore, the company has fostered strong relationships with popular third-party food aggregators such as Foodpanda and Grabfood, ensuring widespread reach and accessibility.
In the third quarter of 2022, FRUIT made a significant stride in the cloud kitchen sector with the launch of its own brand, Nube Kuxina. This strategic acquisition of Fly Kitchen will bolster FRUIT’s expansion plans for its cloud kitchen business, allowing for accelerated growth and improved service offerings in the region.
In a statement, FRUIT expressed its vision for the future, stating, “By leveraging synergies and seamlessly integrating its own brands into the existing Fly Kitchen ecosystem, the acquisition will empower FRUIT to significantly broaden its cloud kitchen business and effectively cater to its valued customers. FRUIT aims to introduce a variety of its own delectable food and beverage offerings, including its renowned Fruitas fresh juices, Ling Nam, Soy & Bean, Sabroso Lechon, and more, through the Fly Kitchen platform.”