PERI-PERI Charcoal Chicken and Sauce Bar Is scaling up its expansion in 2023 after opening new stores in central and north Luzon last year, the listed company behind the casual dining restaurant chain said.
In a press release on Monday, Shakey’s Pizza Asia Ventures, Inc. said by end-2022, Peri-Peri tripled the number of its stores to 68 from 21 outlets in 2019, the year it was acquired by the food service group.
“Peri-Peri has grown significantly over the past 3 years, despite the pandemic. In a short span of time, it has become a strong number 2 player in the category,” Shakey’s President and Chief Executive Officer Vicente L. Gregorio said.
“Given its strong performance in the Metro, we believe it’s high time to expand to new cities and give their local residents a taste of Peri-Peri,” he added.
According to Shakey’s, the restaurant chain’s expansion program kicked into high gear upon entering the second half of 2022.
In the fourth quarter of last year, Peri-Peri opened stores in Baguio City; Tuguegarao, Cagayan; Cabanatuan, Nueva Ecija; and Cauayan, Isabela.
It also built a new store along the North Luzon Expressway Shell of Asia beside its sister pizza brand, Shakey’s.
“The fantastic response to Peri-Peri is greatly encouraging. To us, it means we’re on the right track — expanding the reach of Peri-Peri to provide more guests with unique and memorable experiences,” Mr. Gregorio said.
“We still see more opportunities for Peri-Peri,” he said, adding that the stores in the north “serve as our proof of concept.”
Shakey’s other brands include pizza chain Project Pie, R&B Milk Tea, and Potato Corner.
On Monday, shares in Shakey’s climbed by 15 centavos or 1.89% to P8.08 apiece. — Justine Irish D. Tabile