Paranaque—(PHStocks)—Shakey’s Pizza Asia Ventures Inc. (PSE: PIZZA), the Philippines’ largest operator of chained full-service restaurants, continues to build its international presence particularly in the Middle East.
PIZZA, through subsidiary Shakey’s Pizza Regional Foods Ltd, recently signed an area development agreement with Aljeel Capital LLC, a Dubai-based group, to build at least 10 Shakey’s Pizza outlets in the United Arab Emirates (UAE) over a span of five years. The first store, to be located in Dubai, is scheduled for opening in the first half of 2018.
This is the second international franchise for the company which owns the perpetual rights to the Shakey’s brand for the Middle East, Asia (excluding Japan and Malaysia), China, Australia, and Oceania. This also translates to a total international pipeline of at least 20 outlets over the next few years.
In December 2016, PIZZA signed an agreement to open at least 10 Shakey’s stores in Kuwait.
“Dubai, UAE, and the rest of the Middle East are great markets for us. Not only are there strong and welcoming Filipino communities which love the Shakey’s brand and are excited about experiencing it away from home, but there are also tremendous growth opportunities within the mainstream markets there,” said Vic Gregorio, President and Chief Executive Officer of PIZZA.
Firas Hurieh, Chief Executive Officer of Aljeel Capital said, “We are excited about this partnership and more thrilled to bring a solid brand such as Shakey’s to the UAE as there is a huge opportunity to target a wide customer base and grow the brand in the next few years.”
Shakey’s, best known for its World Famous Thin Crust Pizza, is recognized globally as the original pizza franchise. In 1975, it first opened in the Philippines where it currently maintains market leadership in both the full service and pizza chain categories.
As of end March 2017, the company had a total of 189 stores locally. The store in Kuwait will be the Company’s first outlet outside of the Philippines and is on track to open in the third quarter of 2017.
Gregorio added, “We are excited to bring Shakey’s and its ‘Fun, Family, Pizza’ positioning to other countries in our part of the globe. We are confident in the success of our new markets and look forward to more partnerships as we continue to build a bigger and better Shakey’s.”
About Shakey’s Pizza
Shakey’s has been creating over 40 years of great times and great memories in the Philippines. Having started its first store in Metro Manila in 1975, Shakey’s now operates nationwide with a store count of 189 stores. Shakey’s is one of the leading operators of Fast Casual Restaurants in the Philippines, focused on family casual dining. It maintains market leadership in both the chained pizza full-service and chained full-service restaurant categories. Shakey’s believes its superior value arises from its differentiated menu offerings, high-quality products, and a mission to consistently provide great times and great memories to every Shakey’s guest.
About Aljeel Capital LLC
Aljeel Capital LLC (AJC) is a private institutional investment house based in Dubai, United Arab Emirates. AJC investments are focused on consumer defensive driven sectors across the MENA region, particularly on the GCC Market. AJC owns and manages in-house well-diversified portfolios in various sectors across the region, including FMCG, F&B and Packaging. In addition, AJC has a solid and reputable shareholder base from the GCC and the Levant region.