Monde Nissin to buy 15% of Figaro Coffee Group shares

The transactions will be worth P820.3m. 

Monde Nissin will be acquiring 15% of Figaro Coffee Group’s (FCG) shares for P820.3m, which costs P1 per share. 

“We believe our scale may help enhance the procurement capabilities of the Figaro Group which are rapidly growing. We look forward to working with the Figaro Group management team and potential future collaborations that this new relationship may offer,” Henry Soesanto, Monde Nissin’s CEO, said.

Read more: Philippines’ Figaro Coffee Group income soars over 100% in 2022

The proceeds will be used for the expansion of FCG.

“We welcome this partnership with Monde Nissin as we believe a combination of their leadership in the food sector, strength in manufacturing and timeless brand equity, combined with our fast-growing store network and brand strength will yield excellent opportunities for Figaro Coffee Group to solidify its position as a very strong and stable F&B company,” Figaro Coffee Group’s Chairman Emeritus Jerry Liu said.