Po family hikes stake in Shakey’s

MANILA, Philippines — Century Pacific Group Inc. (CPGI), the private holding company of the Po family, has raised its stake in Shakey’s Pizza Asia Ventures Inc. (SPAVI),  fueled by its confidence in the company. 

In a stock exchange filing, SPAVI said that CPGI acquired an additional 29.1 million common shares in the company on March 7 and 11, hiking its stake to 63.8 percent from 62.06 percent. 

The shares were purchased at an average price of P6.88 per share, with a total transaction value of P200 million.

The acquisition reflects CPGI’s confidence in SPAVI’s growth trajectory.

“We remain optimistic about the group’s long-term potential,” CPGI said.

“Management’s strategic focus on building a robust multi-brand portfolio and expanding both domestically and internationally continues to drive sustained performance and create lasting value for all stakeholders,” it said.

SPAVI is a leading player in the casual dining and food service industry. 

Its portfolio includes market-leading pizza chain Shakey’s, top food kiosk chain Potato Corner and emerging brands such as Peri-Peri Charcoal Chicken and Sauce Bar, R&B Milk Tea and Project Pie. 

As of end-September last year, SPAVI’s network of stores and outlets stood at 2,483. The company’s expanding international footprint comprises approximately 15 percent of its network.

The group has demonstrated a strong track record, delivering consistent double-digit revenue and profit growth while expanding its store network beyond 2,500 locations as of end-2024.