The country’s leading pizza parlor chain, Shakey’s Pizza Asia Ventures Inc. (SPAVI), is expanding its overseas footprint by setting up operations in the United Arab Emirates by next year.
Through subsidiary Shakey’s Pizza Regional Foods Ltd., SPAVI sealed an area development agreement with Dubai-based Aljeel Capital LLC to build at least 10 Shakey’s Pizza outlets in the 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 granted by SPAVI, which owns the perpetual rights to the Shakey’s brand for the Middle East and Asia (excluding Japan and Malaysia), China, Australia, and Oceania. The new deal brings to 20 the number of outlets that are slated to open over the next few years.
Last year, SPAVI 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, there are also tremendous growth opportunities within the mainstream markets there,” SPAVI president Vic Gregorio said in a disclosure to the Philippine Stock Exchange.
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, originally an American brand, first opened a restaurant in the Philippines in 1975 and has since maintained market leadership in both the full service and pizza chain categories.
As of end-March 2017, the group had a total of 189 stores locally.
The store in Kuwait will be SPAVI’s first outlet outside of the Philippines. It is on track to its scheduled opening 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.”
On April 1, 2016, Shakey’s Asia Food Holdings Inc. (SAFHI), a company owned by the Po family’s Century Pacific Group Inc. (CPGI), Arran Investments Private Limited (AIPL) and the Prieto family, acquired 100 percent interest in SPAVI. SAFHI then transferred its ownership in SPAVI to CPGI, AIPL and the Prieto family on Oct. 5, 2016. On the same date, SPAVI acquired 100 percent ownership interest in Bakemasters Inc., Shakey’s International Ltd. and Golden Gourmet Ltd.
SPAVI listed on the Philippine Stock Exchange in December last year under the ticker “PIZZA.”
Congratulation!