Politics

Shakey’s Peri-Peri opens 60th store

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LISTED food service group Shakey’s Pizza Asia Ventures, Inc. said on Thursday that its Peri-Peri Charcoal Chicken and Sauce Bar opened new outlets in September.

In a media release, Shakey’s President and Chief Executive Officer Vicente L. Gregorio said that to date, Peri-Peri has 60 outlets in the Philippines.

“Over the last two years, we have witnessed significant growth from Peri-Peri, despite the headwinds brought about by the pandemic. We see opportunities to further its market penetration. For us, strategic expansion is key — having the right stores in the ideal locations with apt formats,” Mr. Gregorio said.

Shakey’s said Peri-Peri opened its newest store at the Clark International Airport, the first airport outlet of Peri-Peri. Last month, Peri-Peri opened its 60th store in Malate.

The casual dining restaurant chain was acquired in 2019 with just 29 stores. Peri-Peri is the second largest chain of Shakey’s, which has the Gokongwei group as a strategic investor.

For the fourth quarter, Mr. Gregorio said Shakey’s is preparing for the holiday season, which it expects to be a “robust period” as pandemic mobility restrictions have eased.

“This year, we are expecting to see even more revenge spending in the coming months because of reunions and gatherings. It will be celebratory. We’re already preparing our stores for functions and expanding our footprint to seize this opportunity,” Mr. Gregorio said.

At the stock exchange on Thursday, Shakey’s shares closed unchanged at P7.50 apiece. — Ashley Erika O. Jose