NETPLATES Corp., the company behind the La Parillada restaurant, has earmarked P200 million in investment for the expansion of its food service business in the next three years.
In a statement on Monday, Netplates said it is targeting to open a total of 20 La Parillada outlets in the next three years, which will be funded by its retained earnings and third-party investors.
La Parillada serves a fusion of American and Mexican cuisine under the supervision of internationally renowned chef Pablo “Boy” Logro.
“It is a venue for consumers to enjoy old-fashioned barbeque ribs and similar products,” said Mr. Logro.
On Saturday, the company opened its eighth La Parillada outlet on the second floor of the Royale Palace Mall, which is beside the Ever Commonwealth Mall.
“The opening of the new La Parillada outlet signifies the company’s serious expansion into the food service and franchising sectors,” said Jeff Agudelo, general manager of Netplates.
“We are offering the La Parillada brand as a franchise opportunity for entrepreneurs,” he added.
The company pegged franchise investment at P3.5 million per outlet.
With the newly opened store, the restaurant chain now has branches at eight sites, including Gateway and SM Megamall.
According to Mr. Agudelo, the new store openings at La Parillada will help make Netplates a major player in the food service industry.
This is also why the company is planning to launch a public offering in the future to further fuel its growth, he said.
Netplates is a company that has business interests in service contracting, business outsourcing, management services, security services, construction, cloud kitchens, restaurant information technology, and financial services. — Justine Irish D. Tabile
