Shakey's Sets Aside P1B for Store Expansion Plan

Shakey's Pizza Asia Ventures Inc. (SPAVI) plans to continue its aggressive store network expansion across all its brands this year while pursuing opportunities to bolster its international presence.

- — Richmond Mercurio

SPAVI president and chief executive officer Vicente Gregorio said the group plans to spend around P1 billion to support its expansion activities this year.

"One (store) a day is safe to say. We're growing that fast," Gregorio said, adding that "we're growing, so we generate enough cash to fund our expansion and capex internally."

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 brands such as Peri-Peri Charcoal Chicken and Sauce Bar, R&B Milk Tea and Project Pie.

The group has expanded to over 2,500 stores in 2024, with Shakey's nearing the 300-store mark.