23 Mar '16, 7am

Century Pacific and Singapore's GIC to buy Shakey's Philippines

Chrisee Dela Paz Published 3:00 PM, March 23, 2016 Updated 3:00 PM, March 23, 2016 NEW OWNERS. Although Shakey's has new owners, its iconic logo and customer service will stay the same, says IFFSI. Photo from Shakey's Philippines Facebook page MANILA, Philippines – Conglomerate Century Pacific Group, Incorporated has partnered with Singaporean sovereign investor GIC to buy International Family Food Services, Incorporated (IFFSI), the owner and operator of the Shakey's pizza chain in the Philippines. Under the deal, a new entity owned by Century Pacific and GIC will acquire majority of the pizza business from the Prieto family, which will continue to hold a minority stake in IFFSI. The transaction will also include Bakemasters Incorporated, a supplier of bakery products to Shakey's, as well as the Philippine franchise for US artisan pizza Project Pie . The deal puts Century...

Full article: http://www.rappler.com/business/industries/176-food-and-b...

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