'Our family continues to grow larger and more fruitful. Bringing Mang Bok's into the diverse portfolio of House of Fruitas is an exciting opportunity for us,' says Fruitas President and Chief Executive Officer Lester Yu
In a stock exchange disclosure on Tuesday, November 19, Fruitas said its fully-owned subsidiary, Negril Trading Incorporated, bought 60% of Bigboks Enterprises Incorporated — the business name of chicken joint Mang Bok’s. The acquisition includes Mang Bok’s inventories, equipment, trademark, and franchise rights, among others.“into any definitive agreements” with Mang Bok’s last October. Fruitas said the deal between Negril Trading and the chicken joint was only finalized on Tuesday.
This is Fruitas’ latest acquisition. The company did not disclose how much it paid to get Mang Bok’s. However, the company’s stock exchange disclosures did note that the transaction was paid in cash and amounted no more than 10% of Fruit’s equity as of end-September, which, based on its
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