On April 4, 2023, the board of directors of Balai Ni Fruitas Inc. approved the acquisition of the land, building and improvements on a 484 sqm property located at N. Domingo, Quezon City. Balai Ni Fruitas continues to expand its distribution channels through setting up new Balai Pandesal stores, product placements in other Fruitas Holdings community stores, and third-party partnerships. Balai Ni Fruitas eyes to enlarge its overall capacity to meet the increasing demand through the acquisition of the property which will be used as a warehouse and commissary.

The property will be acquired from Lush Properties Inc. BALAI commissioned Tan-Gatue Appraisal Associates Inc. as third-party property appraiser to assess the fair market value of the property and set the acquisition price at 90% of the appraised value. The parties executed a Deed of Absolute Sale of Assets with the total consideration price of Php111.3 million (exclusive of 12% VAT). The consideration shall be funded by approx.

25% debt and 75% cash, with part of the cash coming from Initial Public Offering Proceeds allocated for commissary set up and the balance from internal cash.