Betty Ang’s Monde Nissin buys 15% stake in Jerry Liu’s Figaro Coffee Group for P820M

Betty Ang of Monde Nissin and Jerry Liu of Figaro

Monde Nissin Corp., led by ultra bilyonaryo Betty Ang, is acquiring a 15 percent stake in business magnate Jerry Liu’s Figaro Coffee Group Inc. (FCG) for P820.3 million

In a stock exchange filing, Monde Nissin said its board approved the acquisition of 820.3 million FCG shares at P1 each, further expanding its presence in the lucrative foodservice space.

FCG will use the fresh capital to bankroll its expansion plans.

“We are excited with the opportunity to become shareholders in the Figaro Coffee Group as it provides a greater exposure to the food service sector which we view as a potentially attractive avenue for further growth both here in the Philippines and abroad,” said Henry Soesanto, CEO of Monde Nissin.

“Additionally, we believe our scale may help enhance the procurement capabilities of the Figaro Group which is rapidly growing. We look forward to working with the Figaro Group management team and potential future collaborations that this new relationship may offer,” he added.

For his part, Liu, said the entry of Monde Nissin would further strengthen FCG’s position in the foodservice industry.

“We welcome this partnership with Monde Nissin as we believe a combination of their leadership in the food sector, strength in manufacturing and timeless brand equity, combined with our fast-growing store network and brand strength will yield excellent opportunities for Figaro Coffee Group to solidify its position as a very strong and stable F&B company,” said Liu, FCG chairman emeritus.

FCG owns Figaro Coffee Systems Inc. (FCSI), which operates and franchises a network of restaurants including Figaro Coffee, Angel’s Pizza, Tien Ma’s, The Figaro Group (TFG) Express outlet, and Café Portofino.

https://bilyonaryo.com/2023/01/26/betty-angs-monde-nissin-buys-15-stake-in-jerry-lius-figaro-coffee-group-for-p820m/business/