The Lucky Me! manufacturer is buying into Figaro as Monde Nissin looks toward 'greater exposure to the food service sector'
MANILA, Philippines – Monde Nissin is buying into the Figaro Coffee Group , as it eyes the food service sector as an “attractive avenue for future growth.”
Using its operating cash flow, MONDE will be paying FCG P820,268,295 for its ownership stake, with a price of P1 per share. This is higher than the market price per share of FCG, which closed at P0.89 on Wednesday, January 25. “We welcome this partnership with Monde Nissin as we believe a combination of their leadership in the food sector, strength in manufacturing and timeless brand equity, combined with our fast-growing store network and brand strength will yield excellent opportunities for Figaro Coffee Group to solidify its position as a very strong and stable F&B company,” said FCG’s chairman emeritus Jerry Liu in a joint press release on Thursday.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'A hell of a journey:' Panic! At The Disco disbandsFrontman Brendon Urie made the announcement in an Instagram post on Tuesday, January 24, explaining that he will be focusing more on his family as he and his wife Sarah are expecting their first child.
Read more »
‘Small’ Strong Group looks to overcome odds in Dubai campaignPhilippine club team Strong Group kicks off its campaign in the Dubai international basketball tournament with a crew bannered by collegiate standouts and former NBA champion Nick Young, Shabazz Muhammad, and Renaldo Balkman.
Read more »
The Viktor & Rolf SS23 show brings head-turning looksHow to wear a dress, or how Viktor & Rolf mischievously play on the idea of deconstruction by exposing the corseted undergarments beneath unusual twisted dresses. Yet, especially during Couture Week in fashion, this is what people came to see.
Read more »
Business app Enstack looks to grow Southeast Asia presence - BusinessWorld OnlineBUSINESS super app Enstack is eyeing to broaden its presence in the Southeast Asian region as more businesses are digitalizing their operations. READ:
Read more »