MANILA -- Udenna Corp said Monday it would acquire 70-percent of the operator of Conti's Bakeshop and Restaurant, expanding its food and hospitality business.
The holding firm of Davao-based tycoon Dennis Uy also recently acquired the Philippine operations of Japanese convenience store chain FamilyMart and hospitality school Enderun Colleges.
"We are very bullish on the Philippine food industry, which has expanded with the growing demand for convenience," Uy said.
Udenna said it entered into a share purchase agreement with Conti’s Holdings Corp for a controlling stake in the popular chain that is famous for Mango Bravo cake and baked salmon.
Established in 1997, Conti's has 20 stores in Metro Manila, Udenna said.