Shakey’s Pizza Asia Ventures Inc. said it is accelerating the expansion of its Potato Corner business, doubling the brand’s presence in three to four years from the previous plan of five to seven years.
The company earlier this year said it is putting up 150 Potato Corner stores this year to complement the over 1,000 existing stores when Shakey’s acquired the business.
Vicente Gregorio, Shakey’s president, said the acceleration is in response to demand for the business among entrepreneurs since the company acquired the business early this year.
Christopher Po, Shakey’s chairman, said the brand has a lot of room for growth amid expanding retail spaces, particularly in the Visayas and Mindanao.
When the acquisition was announced in December, Shakey’s said the purchase is an “accretive acquisition” given that the Philippine brand has built a vast network of presence both locally and overseas since its inception in 1992.
“Over the years, the business has built a strong brand equity and demonstrated robust performance, attractive margins, and the capability to scale — all aligned with PIZZA’s criteria for acquisitions,” Shakey’s said.
“Nonetheless, Shakey’s will pursue maximizing synergies and wielding its expertise in business development, franchise management, and supply chain operations to further grow the brand sustainably,” it added.
In March, the company acquired Potato Corner’s business in Singapore.
Gregorio said Potato Corner is a “bankable” addition to the company’s portfolio. – Ruelle Castro
