Balai Ni Fruitas, Inc. (PSE:BALAI) agreed to sign a Memorandum of Agreement to acquire Sugarhouse on April 18, 2024. The purchase price shall be paid in cash and is below 10% of the Total Assets of Balai Ni Fruitas Inc. as of December 31, 2023. The purchase price shall be paid in installments until December 31, 2024. The deal is subject to execution of implementing agreements for the acquisition, such as Deed of Sale of Assets, Deed of Sale of Motor Vehicle, Deed of Assignment of Trademark Registration. The board of directors of Balai Ni Fruitas, Inc. (PSE:BALAI) has approved the deal. The transaction is expected to close on or before May 1, 2024.
Balai Ni Fruitas, Inc. (PSE:BALAI) completed the acquisition of the Sugarhouse after execution of Deeds of Absolute Sale of Assets and fulfillment of agreed closing conditions on May 7, 2024. The acquisition will be funded by IPO proceeds.
Balai Ni Fruitas Inc. is a Philippines-based food and beverage company. The Company owns vehicles to deliver various materials, supplies, and products to its stores. Its brands across its portfolio allow it to serve an array of products to the local market. The Company has three active brands, namely Buko Ni Fruitas (BNF), Fruitas House of Desserts (FHOD) and Balai Pandesal (BP). Each brand offers specialized products, such as fruit-based beverages and desserts and freshly baked goods. The Company sells a range of products, such as coconut-based desserts, boba shakes, fresh fruit shakes, baked goods and more through its store network and through the store network of the Fruitas Holdings Inc. group. It has a total of 98 stores across the Philippines, operating in three store formats, including store, kiosk, and inline store. Its products are also available through its e-commerce website, www.BabotsMart.com, and through online delivery platforms, such as Foodpanda and Grabfood.
BALAI NI FRUITAS, INC. 
