A. Soriano Corp. (Anscor) of bilyonaryo Andy Soriano has acquired a minority stake in The Bistro Group, one of the Philippines’ largest restaurant operators, for P1.6 billion.
Anscor said it signed a sale agreement with Navegar I (Singapore) PTE. LTD. for the stake in TBG (The Bistro Group) Food Holdings.
Navegar has been seeking to exit The Bistro Group for some time but has struggled to find buyers, as its high price tag and foreign-dominated brand portfolio have deterred potential takers
The Bistro Group, established in 1981, operates over 200 restaurants across 23 brands in the Philippines, including Italianni’s, TGI Friday’s, and Texas Roadhouse.
Navegar, which acquired The Bistro Group a decade ago when it had 50 restaurants, is led by co-founder and managing partner Honorio “Nori” Poblador IV, with a background in Credit Suisse, Morgan Stanley, and Rothschild.
Navegar is led by co-founder managing partner Honorio “Nori” Poblador IV, who previously worked at Credit Suisse, Morgan Stanley and Rothschild.
It currently currently manages about $300 million worth of assets, which include TaskUs, Intellicare, The Bistro Group, Royale Cold Storage, Great Deals E-commerce Corp., and Dali Discount AG.
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