Balai ni Fruitas Inc., a prominent Philippine counter service bakery operator listed on the Philippine Stock Exchange as “BALAI,” has inked a Memorandum of Agreement to acquire the renowned 40-year-old legacy brand and associated assets of Sugarhouse on April 18, 2024.
Sugarhouse, established in 1983, has been delighting customers with its delectable baked goods and pastries. It is particularly famous for its signature cakes, including the iconic Chocolate Truffle and French Apple Pie, and has diversified its menu to include a wide range of bread, pastries, and meals.
The acquisition of Sugarhouse marks a strategic move for BALAI to broaden its product portfolio, especially in the cake category, and reach a wider customer base.
It will also bolster BALAI’s production capacity, driving its growth trajectory. BALAI anticipates significant synergies with its existing brands.
The deal encompasses various assets such as intellectual property rights, technical expertise, delivery infrastructure, commissary and store equipment, as well as the catering arm of Sugarhouse.
The transaction is slated for completion on or before May 1, 2024.
Lester Yu, President and Chief Executive Officer of BALAI, remarked, “In line with our commitment to delivering shareholder value, we are augmenting our organic growth through a strategic acquisition that enables us to offer a broader range of products to more Filipino consumers. We are enthusiastic about this acquisition and confident that it will seamlessly integrate into our brand portfolio. Following the successful acquisitions of the House of Fruitas, we are poised to rejuvenate the Sugarhouse brand and propel it to new heights.”
PhilippinesToday.ph