Monde Nissin acquires 15% stake in Figaro

MANILA, Philippines — Monde Nissin Corp., the listed snack foods giant, takes a bite of the food service industry through an acquisition of a 15 percent stake in Figaro Coffee Group for P820.3 million.

Henry Soesanto, Monde Nissin’s CEO, said the acquisition would provide the company exposure to the food service sector as part of its growth plan.

“We are excited with the opportunity to become shareholders in the Figaro Coffee Group as it provides a greater exposure to the food service sector which we view as a potentially attractive avenue for further growth both here in the Philippines and abroad,” Soesanto said.

Monde Nissin’s entry can also help the procurement capabilities of Figaro given its scale as a global company.

“We look forward to working with the Figaro Group management team and potential future collaborations that this new relationship may offer,” Soesanto said.

Figaro’s board on Wednesday approved the issuance of 820.3 million common shares to Monde Nissin at P1 per share, or a total subscription price of P820.3 million to Monde Nissin Corp.

“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,” Figaro Coffee Group’s chairman emeritus Jerry Liu said.

Listed FCG wholly-owns Figaro Coffee Systems Inc. (FCSI), through which it operates and/or franchises a network of restaurants.

These include Figaro Coffee, a coffee shop with domestic and international branches; Angel’s Pizza, a pizza store chain; Tien Ma’s, a Taiwanese cuisine restaurant; The Figaro Group Express outlet, a multi-brand kiosk selling the top products of FCSI’s other restaurants; and Café Portofino, an outlet which primarily serves beverages and bakery items.

Monde Nissin, meanwhile, is a global food and beverage company headquartered in the Philippines.

It is behind iconic and market leading brands across fast-growing categories, including Lucky Me! noodles, SkyFlakes crackers, Fita crackers, Monde baked goods and Quorn meat alternative products.