Businessman Lester Yu's Fruitas Holdings' move to acquire retail bakery Balai Pandesal in 2021 is paying off. It now has 50 stores compared to only 5 in 2021.
This is AI generated summarization, which may have errors. For context, always refer to the full article. Business man Lester Yu's Fruitas Holdings' move to acquire retail bakery Balai Pandesal in 2021 is paying off. It now has 50 stores compared to only 5 in 2021.
In 2021, in response to the COVID-19 pandemic which badly hit the company, Yu acquired Balai Pandesal bakery and put up its first community store in Kamuning, Quezon City. It turned out to be a wise move since the company has seen its bakery business grow fast. SIZE. Julie’s Bakeshop and Pan de Manila dominated the baked goods counter service retail bakery business in 2022, but Buko Ni Fruitas had a more than 50% share of the fruit-based desserts business, according to a Balai Ni Fruitas presentation in June 2022.“We responded to the pandemic by acquiring Balai Pandesal and rolling out community stores and we are glad that this strategy paid off.
BREAD. Balai ni Fruitas Inc. President and CEO Lester Yu shows Manila Bulletin President Dr. Emilio Yap III a Balai Pandesal branch in E. Rodriguez, Quezon City, in September 2022.Balai ni Fruitas, a subsidiary of Chinese-Filipino businessman Lester Yu’s Fruitas Holdings Incorporated, disclosed on Thursday, April 11, that its revenues rose 57% from P341 million in 2022 to P535 million in 2023. Its net income increased by 58% from P37 million in 2022 to P59 million in 2023.
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