Figaro Culinary Group Launches Innovation Subsidiary to Strengthen Manufacturing and Future Export Growth
Figaro Culinary Group, Inc., a publicly listed food and beverage company, has taken a significant step in advancing its long-term growth strategy with the establishment and expansion of Figaro Innovation and Development Inc. (FIDI), a wholly owned subsidiary created to enhance the Group’s food manufacturing capabilities, broaden its product portfolio, and lay the groundwork for future export opportunities.
The strategic initiative was highlighted by the recent ceremonial signing of a Supplemental Agreement between FIDI and the Philippine Economic Zone Authority (PEZA) in Pasay City. The agreement reaffirms FIDI’s status as a PEZA-registered export enterprise and supports its manufacturing operations at the Laguna Technopark–Special Economic Zone. Under the arrangement, FIDI is authorized to manufacture products such as Anghel Kape and other food innovations within the Figaro Culinary Group portfolio.
FIDI serves as the Group’s dedicated innovation and manufacturing arm, enabling Figaro to scale food production beyond its retail brands while strengthening capabilities for domestic distribution and eventual entry into international markets. Through the subsidiary, the Group aims to develop new food formats, improve production efficiency, and align quality standards with global requirements.
The Supplemental Agreement builds on FIDI’s existing PEZA Certificate of Registration, which recognizes the company’s registered activities as an export enterprise engaged in the toll manufacturing of coffee mixes and food products.
Attending the signing ceremony were Brian Gregory Liu, Chairman of Figaro Innovation and Development Inc.; Tereso O. Panga, Director General of PEZA; Joy Anidelle Alguso, Deputy Director General of PEZA; and Jose Petronio Español, President and Chief Financial Officer of FIDI.
“This agreement supports Figaro Culinary Group’s broader vision of expanding its food platforms beyond retail, strengthening manufacturing, and positioning our brands for sustainable future growth,” Español said.
PEZA Director General Panga underscored the role of enterprises like FIDI in driving innovation, industrial development, and inclusive growth within economic zones.
Figaro Culinary Group reiterated that while the initiative reflects its strategic direction, forward-looking statements remain subject to risks and uncertainties that may cause actual results to differ materially from current expectations, consistent with applicable disclosure requirements.