JE Holdings and CPG buys more stake in Philippines’ Shakey’s Pizza

The total shares bought were 283 million.

Century Pacific Group, Inc. (CPG) and JE Holdings, Inc. (JE), operated by the Po and Gokongwei families, purchased more shares in casual dining chain Shakey’s Pizza Asia Ventures from Singapore-based sovereign wealth fund, GIC.

In a joint statement, CPG and JE, through a private placement, acquired 185 million shares and 98 million shares, respectively. This increases CPG’s holdings to 62% while JE Holdings bumped to a 14.9% stake. Shares that were purchased were P9.50 a piece.

GIC formerly held 283 million shares, with a 16.8% stake in Shakey’s Pizza. 

JE Holdings became a strategic investor for Shakey's Pizza in 2021, contributing P1.2b (US$21m) in capital and expanding the portfolio with Wow Brands. Their involvement also covers the successful acquisition of the kiosk chain Potato Corner.
 
With 2,000 locations and five Wow Brands, Shakey's Pizza reported a systemwide sales increase of 51% and a doubling of net income by 96%, prompting a newer outlook for the group, expecting more than 30% year-on-year growth. 

P1 = US$0.018