LISTED Fruitas Holdings, Inc. has bought kitchen equipment previously owned and used by food delivery platform foodpanda to improve the operations of its cloud kitchen subsidiary.
In a stock exchange disclosure on Tuesday, Fruitas said its wholly owned unit Fly Kitchen, Inc. acquired the kitchen equipment to help expand its cloud kitchen offerings and capabilities.
“We are pleased to announce this tactical purchase of top-quality kitchen equipment from foodpanda. This decision reflects our dedication to providing outstanding gastronomic experiences to our patrons,” Fruitas President and Chief Executive Officer Lester C. Yu said.
The deal came after Delivery Hero confirmed the potential sale of its foodpanda business in select Southeast Asian markets such as Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar, and Laos.
Delivery Hero is the German-based parent firm of foodpanda.
“With the advanced kitchen technology, Fly Kitchen is now able to expand its menu with new methods, processes, and flavors. The use of cutting-edge equipment allows the company to streamline every aspect of its operations, from food preparation to presentation, resulting in even higher service and product quality,” Fruitas said.
“Additionally, the advanced kitchen equipment will give Fly Kitchen the freedom to experiment with new recipes which will excite the taste buds of its loyal consumers and new customers. Finally, the kitchen equipment will open the door for the company to collaborate with and prepare third-party brands which would fit well with its present cloud kitchen operations,” the company added.
According to Fruitas, some of the brands established by Fly Kitchen include Hatid Pinoy, Jade Express, and Kanin at Sabaw.
In the first half, Fruitas posted a 48% increase in its net income to P43.5 million compared to P29.3 million due to higher revenues.
On Tuesday, shares of Fruitas at the local bourse rose four centavos or 3.57% to end at P1.16 apiece. — Revin Mikhael D. Ochave
