Monde Nissin inks Figaro buy-in deal

MANILA, Philippines — Monde Nissin Corp. yesterday signed an agreement for its acquisition of 820.3 million common shares in Figaro Coffee Group.

This puts in effect Monde Nissin’s acquisition of a 15 percent stake in FGC as part of its foray into the food service business and overall growth strategy in the Philippine market.

Monde Nissin has fully paid the subscription price.

FGC, for its part, shall apply for and secure the approval of the PSE for the listing of the subscription shares within 180 days from the signing of the subscription agreement.

Monde Nissin CEO Henry Soesanto said the acquisition of a 15 percent stake in FCG would provide the snack foods giant exposure to the food service sector.

For Figaro, Monde Nissin’s entry can help improve its procurement capabilities given its scale as a global company.

Under the Figaro Group are different food brands namely Angel’s Pizza, a pizza store chain; Tien Ma’s, a Taiwanese cuisine restaurant; The Figaro Group (TFG) Express outlet, a multi-brand kiosk selling the top products of FCSI’s other restaurants; and Café Portofino, an outlet which primarily serves beverages and bakery items.

Monde Nissin is a global food and beverage company headquartered in the Philippines.

It is behind iconic and market leading brands across fast-growing categories, including Lucky Me! noodles, SkyFlakes crackers, Fita crackers, Monde baked goods and Quorn meat alternative products.