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Your favorite pizza house will soon be owned by a pancake house.
Pancake House was reported to have signed a deal that will enable it own and run the popular pizza house, Yellow Cab Foods Corporation. The price of the deal is worth P800 million.
Martin Lorenzo, Chair of the Pancake House, said in an interview,
“Yellow Cab is a top quality pizza chain that complements our other brands and is aligned with our strategic directions. We view it as an established top of mind, premium pizza brand and a profitable business.”
Pancake said that it will pay Yellow Cab in cash.
Negotiations for the selling of the popular pizza food chain started six months ago. The three owners said that they wanted to go their separate ways and pursue different ventures; this paved way for the acquisition seen to boost the cash flow and income of Pancake House starting 2012.
Photo credit: juice.ph
