Balai ni Fruitas, a listed fresh coconut-based beverage company, said Tuesday it has tripled its commissary set-up budget to P60 million from P20 million in view of increasing demand.
The company said the additional funds will be taken from the proceeds of its initial public offering earlier set aside for store network expansion and store improvement.
Balai management noted that the company “has been able to expand distribution through placement of its products in other Fruitas Holdings Community Stores and third-party partnerships.” Fruitas Holdings is Balai’s parent company.
“By increasing the amount allocated to commissary set-up, the company will be able to expand capacity to serve increasing demand,” Balai disclosed to the Philippine Stock Exchange.
