Shakey’s Pizza PH Purchases Peri-Peri Charcoal Chicken Chain
Everyone’s favorite Peri chicken is about to get better!
Shakey’s Pizza Asia Ventures Inc. announced on Tuesday, April 2, that they are set to acquire the Peri-Peri Charcoal Chicken chain.
According to the Asset Purchase Agreement signed in the Philippine Stock Exchange, Shakey’s will purchase Peri Chicken’s assets and intellectual property, including its brand, trade name, and the various proprietary recipes used by the latter to make its trademark peri-peri chicken.
Also read: Peri-Peri celebrates 12 years of great food and festive dining experience
The acquisition will also involve Shakey’s owning and operating all company-owned stores. This includes serving as the brand-owner and franchisor of stores being operated by franchisees.
“This Peri acquisition is another vote of confidence in the growing middle class in the Philippines,” said Shakey’s Chairman Christopher Po.
Peri-Peri Charcoal Chicken is the flagship brand of IFoods Group, Inc. It is well-known for its Charcoal Grilled Chicken inspired by the flavors of South America, particularly the African Bird’s Eye Chili.
Currently, Peri-Peri Charcoal Chicken has 23 branches in various parts of Metro Manila, about 60 percent of which are franchised, while 40 percent are company-owned.
Also read: Bryan Tiu of iFoods Group, Inc.
The deal is expected to close on mid-2019, upon the fulfillment of conditions required for this kind of transaction.
“We are excited by the potential of Peri to scale. We expect it to be an important future growth driver for our fast-casual chain restaurant business,” Po added.
