Shares of Pacifica climbs as Kuya J Group announced Popeyes comeback to the country
Shares of Pacifica Inc. climbs after Kuya J Group announced that the popular fast-food chain in the US, is soon making a comeback in the Philippines. The Pacifica shares grew 13.51% on Monday to close at 0.042 a piece. It was one of the 5 Top gainers at the Philippines stock market.
Based on a press statement posted on Businesswire website on August 17, 2018, both parties agreed for an exclusive master franchise agreement to develop and grow the Popeyes brand in the country.
Popeyes president Alexandre Santoro said: “we are very excited to sign our first major development for the Popeyes brand in Asia. We believe that our passion for food at Popeyes will resonate well with guests in the Philippines”.
In addition, Kuya J Group Chairman Lowell L. Yu said: “we are proud to partner with Popeyes to launch and develop this great brand in the Philippines. The Philippines is a large and growing market, and we are looking forward to serving the high quality food that Popeyes offers to the country’s more than 100 million people.”
Popeyes operates over 2,900 restaurants in the U.S. and around the world, while Kuya J Group has more than 100 Kuya J Restaurants all over the country, which offers Filipino favorites dishes like its crispy pata, kare-kare, caldereta and halo-halo. The group also owns and operates Isla Sugbu Seafood City, Tsay Cheng Chinese Cuisine and Majestic