Publicly-listed Figaro Coffee Group Inc. unit Figaro Innovation and Development Inc. on Thursday secured the Philippine Economic Zone Authority greenlight to begin production at its pizza facility in Binan, Laguna.
PEZA approval means the new facility is entitled to income tax holiday for five years, a five-percent special corporate income tax for 10 years in accordance with the provisions of R.A. No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, subject to Figaro Innovation’s supplemental agreement with PEZA.
Angel’s Pizza, flagship pizza chain of the Figaro Coffee Group, earlier posted P1.2 billion in sales on GrabFood in the first half this year on transactions reaching almost a million.
The 925,000 transactions represent an annual expansion of 63 percent, showcasing the brand’s strong post-pandemic recovery and sustained delivery business on the leading on-demand delivery platform.
In Metro Manila, Angel’s Pizza posted a 53 percent annual sales growth on the GrabFood platform. In provincial areas, Angel’s Pizza achieved a rapid 151 percent sales growth. The numbers affirm Angel’s Pizza as a strong pizza brand that customers keep coming back to on the GrabFood platform, the company said.
“We are incredibly proud of the progress Angel’s Pizza has made. Achieving 1.2 billion in sales on Grab in the first half of 2024 is a monumental milestone that reflects our dedication to providing high-quality products and excellent service to our customers. As a long-time partner of Grab, we affirm our continuous and strong relationship which gives us more excitement towards future growth and innovation together,” Justin Liu, Figaro chairman, said.
