Pancake House acquires Yellow Cab for P800M
(SPOT.ph) Restaurant operator Pancake House Inc. (PHI) finalized a deal to purchase pizza chain Yellow Cab Food Corporation yesterday, August 31, for P800 million, reports GMA News. The sale covers Yellow Cab’s 82 outlets and 13 franchise branches.
"Yellow Cab is a top quality pizza chain that perfectly complements our other brands and is aligned with our strategic directions," said PHI Chair Martin Lorenzo in a Philippine Daily Inquirer report. "We view it as an established top of mind, premium pizza brand and a profitable business in its own short-term and sustainable growth over the medium to long term."
According to Cecile Macaalay, PHI director for corporate planning and finance of Pancake House, the acquisition will help increase PHI sales to over P4 billion. Apart from Pancake House and Yellow Cab, PHI also operates Dencio’s, Teriyaki Boy, Sizzlin’ Pepper Steak, Le Coeur de France, Kabisera, and Chicken Rice.
For more on this story, log on to GMA News and the Philippine Daily Inquirer.