MANILA, Philippines - Araneta-owned Philippine Pizza Inc., the franchise owner and operator of Pizza Hut, is doubling its capitalization to P1 billion.
Documents filed with the Securities and Exchange Commission show that the company would have a subscribed and paid-up capital of P624.16 million following the increase in its authorized capital stock.
Philippine Pizza is also the exclusive franchisee of Taco Bell and Dairy Queen in the Philippines. It owns and operates 145 Pizza Hut outlets three Taco Bell stores and 16 Dairy Queen restaurants in the country. Its 7,200 customer-focused employees serve about 18 million customers every year.
Pizza Hut is the country’s leading pizza delivery store chain, delivering over two million pizzas a year. It has put up over 140 restaurants, in the Philippines since 1984. Its locations are strategically located from Baguio to Mindanao and are now the country’s most popular pizza restaurant, with its dine-in restaurants, delivery units and express counters.
To cater to the more discerning food enthusiasts, Philippine Pizza established Pizza Hut Bistro. A breakthrough concept in dining, it offers the best of casual dining, giving diners the chance to enjoy the best Italian-American Pizza, along with classy ambience and first-class service.
Over the past four years, Pizza Hut more than doubled its sales and was also named “Franchisee of the Year” by Pizza Hut International for two straight years.
Pizza Hut was started in 1958 by two enterprising college students, Frank and Dan Carney, in their hometown in Wichita, Kansas. Since then, it has become the largest and most popular pizza chain with over 12,000 restaurants in 90 countries around the globe in 2004.