LISTED restaurant operator Shakey鈥檚 Pizza Asia Ventures, Inc. (SPAVI) plans to allocate about P1 billion in capital expenditures (capex) this year.
鈥淟ast year, the guidance we gave was P1 billion鈥 This year, again, we should be around those areas,鈥 SPAVI President and Chief Executive Officer Vicente L. Gregorio said during a media briefing in Makati City on Wednesday.
SPAVI previously said it had spent nearly P900 million in capex as of the end of the third quarter of 2024, funding store renovations and new openings.
The company鈥檚 portfolio includes Shakey鈥檚 Pizza, Peri-Peri Charcoal Chicken and Sauce Bar, Potato Corner, R&B Milk Tea, and Project Pie.
As of the end of 2024, SPAVI operated more than 2,500 stores across all brands, nearly 300 of which were under the Shakey鈥檚 Pizza brand.
Mr. Gregorio said SPAVI plans to open one store per day in 2025 across its brands, totaling 365, as part of its expansion into Visayas and Mindanao.
The company previously announced plans to open 20 new Shakey鈥檚 Pizza branches this year.
鈥淒efinitely, one (store) a day is safe to say. We鈥檙e growing that fast. In 2023 alone, we opened more than 300 stores as a group,鈥 he said.
鈥淧eri-Peri has a lot of room for growth outside Metro Manila. Shakey鈥檚 Pizza is underpenetrated in Visayas and Mindanao. Potato Corner is very aggressive domestically but is also ramping up internationally. The brands that we have will keep us busy for the next two to three years,鈥 he added.
Mr. Gregorio said SPAVI is also 鈥渁ctively looking鈥 at potential acquisitions but remains focused on scaling its existing brands.
鈥淲e remain open to any opportunity. But we鈥檙e focused now on the potential of the current brands we have,鈥 he said.
Last week, Po-led private holding company Century Pacific Group, Inc. increased its stake in SPAVI to 63.8% from 62.06% after acquiring 29.1 million SPAVI shares for P200 million.
The company鈥檚 expansion plan comes as it marks the 50th anniversary of the Shakey鈥檚 Pizza brand in the Philippines.
鈥淲e look forward to taking this brand to greater heights, reaching more guests as we build more stores across the country, and creating more jobs as we grow. As we celebrate 50 years of Shakey鈥檚, we remain committed to honoring its legacy while shaping its future 鈥 one slice, one store, and one community at a time,鈥 Mr. Gregorio said.
On Thursday, SPAVI shares declined by 0.14% or one centavo to P6.99 per share. 鈥 Revin Mikhael D. Ochave
