Netplates Corp announces expansion, eyes future IPO

MANILA, Philippines — Netplates Corp. announced the expansion of its food service business with the opening of a new La Parillada outlet in Quezon City.

La Parillada, a fusion of American and Mexican cuisine, is owned and operated by Netplates a firm engaged in cloud kitchen and franchise development under the supervision of internationally renowned chef Boy Logro.

Jeff Agudelo, general manager of Netplates, said the opening of the new La Parillada outlet signifies the company’s serious expansion into the food service and franchising sector.

The new outlet is located on the second floor of the Royale Place Mall near Commonwealth Avenue.

“We are offering the La Parillada brand as a franchise opportunity for entrepreneurs,” Agudelo said.

“It’s also a venue for consumers to enjoy old-fashioned barbecue ribs and similar products,” said Logro.

The company disclosed plans to launch a public offering in the future to fuel its growth strategy. Agudelo said the food service industry is an important growth sector that would boost the Philippine economy.

Agudelo expressed confidence that with new store openings and franchise support for La Parillada, Netplates would become a major player in the food service industry, banking on Logro’s 50 years of experience in the culinary business.

The company plans to open 20 outlets in the next three years. It hopes to raise P200 million in funds for the expansion from the firm’s retained earnings and from third-party investors. The franchise investment is pegged at P3.5 million per outlet. La Parillada has eight restaurant outlets in Metro Manila.