Fruitas Holdings Inc., a leading player in the Philippine food and beverage sector, has made a significant move into the roasted chicken market by acquiring a 60 percent majority stake in Boksbro Inc., the parent company of the popular Mang Bok’s food chain. The acquisition was executed through Fruitas’ wholly-owned subsidiary, Negril Trading Inc., although the financial terms of the deal have not been disclosed.
Mang Bok’s, known for its delectable roasted chicken and pork belly offerings, has been a staple in Filipino dining since its founding in 2002. The food chain has built a loyal customer base, thanks to its flavorful and affordable menu that includes freshly roasted meats, fried items, and rice meals.
The deal also sees private individuals acquiring 38.75 percent of the Mang Bok’s business, with Fruitas president and CEO Lester C. Yu personally purchasing a 1.25 percent stake. Yu’s acquisition includes a nominal number of shares in Bigboks Enterprises Inc., the vehicle used for the acquisition, to qualify him for a seat on the company’s board and senior management post-reorganization.
“Our family continues to grow larger and more fruitful,” said Yu in a statement. “Bringing Mang Bok’s into the diverse portfolio of House of Fruitas is an exciting opportunity for us. This acquisition perfectly aligns with our commitment to excellence and our customer-centricity approach. We are dedicated to providing delicious and accessible food options that truly resonate with the heart of Filipino culture.”
The acquisition covers all key assets of the Mang Bok’s brand, including inventories, equipment, leasehold improvements, intellectual property rights, and recipes for both current and upcoming products. It also includes franchise rights, supplier contracts, and security deposits, which will enable Fruitas to fully integrate the brand into its portfolio.
Fruitas plans to leverage its extensive retail network and operational expertise to grow Mang Bok’s presence while maintaining the high standards of quality and taste that have made the brand a household name among Filipino consumers. The integration is expected to create synergies across the House of Fruitas portfolio, further enhancing the customer experience and satisfaction.
