TLC eyes IPO next year

MANILA, Philippines — The Lush Company Inc. (TLC), the market leader in the Philippine food cart business which is behind the popular Fruitas brand, may embark on an initial public offering as early as the first quarter of 2018.

Sources at the Philippine Stock Exchange (PSE) said TLC has already sent “feelers” to the PSE.

The company wants to raise funds for expansion on the back of the booming growth of the food retail business across the Philippines, which are driven by overseas and Philippine-based Filipinos looking for investments and growing consumer demand.

TLC joins the pipeline of companies seeking to embark on an IPO which also includes Audiowav Inc. (P2.7 billion); Pure Energy Holdings (P1.5 billion); Xeleb (P736 million) and The Big Chill (P500 million to P600 million).

The STAR earlier reported that TLC is exploring the possibility of tapping the local equities market to fund its expansion.

Business development manager Christine Gatacilo has said the company is studying the market to assess the viability of doing an IPO as the company continues with its expansion.

At present, TLC has been widening its business portfolio to include dining outlets and food parks.

It has formally inaugurated its La Petite Parisienne Manila deli and wine bar in Quezon City as it expands its business portfolio.

The innovative concept is the latest venture of TLC, which started with a single beverage kiosk in 2002 and which was founded by entrepreneur Lester Yu.

It is La Petite Parisienne’s second branch where customers can wine-and-dine in the ambiance of a French wine cellar. It is located at the Po Building along Tomas Morato Avenue.

All products are directly imported from France as TLC wants to give Filipinos a taste of authentic French wines at an affordable price.

Its first outlet is located in Salcedo Village in Makati City.

At present, TLC carries well-known brands such as Fruitas Fresh From Babot’s Farm, Buko Ni Fruitas, Fruitas Ice Candy, De Original Jamaican Pattie and Juice Bar, Juice Avenue, The Mango Farm, Buko Loco, John Lemon. Black Pearl, Shou, Friends Fries, and Halo-Halo Islands.