Fruitas Holdings Inc. revealed the acquisition of kitchen equipment previously owned by food and delivery service provider foodpanda.
The acquisition was made by Fruitas’ subsidiary, Fly Kitchen. In a Philippine Stock Exchange (PSE) disclosure filed on Tuesday, the company described the equipment as “top-notch cloud kitchen equipment” and expressed its readiness to expand its operations with this new acquisition.
Fly Kitchen operates multiple food brands, including Jade Express, Hatid Pinoy, Kanin at Sabaw, and more. The addition of foodpanda’s advanced kitchen technology will allow Fly Kitchen to optimize its operations and enhance its menu with new systems and flavors.
Fruitas Holdings, known for its popular food brands such as Fruitas, John Lemon, Buko Loco, Sabroso Lechon, and Balai Pandesal, entered the cloud kitchen space in September 2022 with the launch of Nube Kuxina. This strategic move aimed to expand Fruitas’ reach and cater to more customers efficiently.
Foodpanda, an online food and grocery delivery platform present in 40 countries across five continents, has been in talks to sell its business in the Philippines and other Southeast Asian markets. However, no official confirmation of the deal has been issued, though rival firm Grab has been speculated as a potential buyer.
Foodpanda had recently implemented a new round of layoffs, indicating the company’s need to become leaner, agile, and more efficient. This new development strengthens rumors that foodpanda may be exiting the Philippine market in the near future.