Press Release

Balai ni Fruitas enters agreement to acquire 40-year old legacy brand Sugarhouse

Balai ni Fruitas Inc., a leading Philippine counter service bakery operator listed on the Philippine Stock Exchange under the symbol “BALAI”, signed a Memorandum of Agreement to acquire the 40-year old legacy brand and various assets related to the Sugarhouse business on April 18, 2024. 

Sugarhouse started in 1983, offering delectable baked goods and pastries to its customers. Sugarhouse is known for its cake offerings, including its iconic Chocolate Truffle and French Apple Pie. It has also expanded its menu to include a wide array of breads, pastries, and meals.

The acquisition of Sugarhouse will allow BALAI to expand its product offerings, particularly in the cake category and tap a broader customer base. BALAI will also gain additional production capacity to fuel its growth. BALAI also anticipates significant synergies with its existing brands.

The acquisition includes assets such as intellectual property, technical know-how, delivery, commissary and store equipment. BALAI will also take over the catering business of Sugarhouse. Completion is expected to take place on or before May 1, 2024.

“In line with our aim of delivering shareholder value, we are complementing our organic growth with a key acquisition that will allow us to serve more products to more Filipinos.  We are excited with this new acquisition and believe this will integrate well into our brand line-up. Similar to the past acquisitions of the House of Fruitas, we will invigorate the brand and seek to bring it to new heights,” stated Mr. Lester Yu, BALAI President and Chief Executive Officer.