Fruitas Holdings, Inc. food and beverage kiosk operator is continuing to grow, with the company introducing its own milk line under the Babot’s Farm brand. In a statement on Thursday, the company said the new milk brand, named Babot’s Farm 100% pure and fresh milk, is all-natural and comes from free-range cows.
Fruitas said the first variant under the new milk brand is cow milk, with plans to introduce other varieties such as chocolate milk and carabao milk in the future. The company said it is also considering yogurt as an additional product in the Babot’s Farm brand lineup.
The company said the new product will be available in more than 20 Babot’s Farm and Soy & Bean community stores across Metro Manila. It added that the new milk brand will be offered via the company’s delivery service, CocoDelivery, and in other kiosks.
Fruitas President and Chief Executive Officer Lester C. Yu said the new milk brand suits the company’s products as the product requires minimum processing before consumption.
“We believe that we can offer healthier alternatives of milk to Filipinos, so we decided to introduce our own brand of milk into our retail network,” Mr. Yu was quoted as saying. “This initiative will move us closer to achieving our vision of having every Filipino household consume a Fruitas product every day.”
The company said some 800 outlets within its store network have already reopened. By the end of the year, the company plans to open 30 community stores and 100 by the end of 2021.
Fruitas recently opened its first franchised store in Dubai under the House of Desserts brand, which offers several products such as fruit shakes, pearl shakes, milk tea, fresh fruit desserts, halo-halo, and fresh lemonades.
Fruitas cut its net loss to P19 million in the third quarter due to higher consolidated revenues and reduced operating expenses. Compared to the previous quarter, the company said its consolidated revenues rose 90% to P167 million, while its operating expenses excluding depreciation and amortization fell 56% to P102 million.
On Thursday, shares of Fruitas at the stock exchange were steady at P1.70 per share.
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