The Big Chill plans P2-B infra listing

The Big Chill Inc. (TBCI), a subsidiary of publicly listed Agrinurture Inc. (ANI), plans to list by way of introduction to raise up to P2 billion.

In an interview Thursday night, TBCI chairman and CEO Antonio Tiu said the company would use proceeds from the offering to fund its regional expansion.

“After listing, I can do a private placement. We can raise P1.5-P2 billion,” Tiu said.

Tiu is looking for partners in neighboring countries for franchising.

He hopes to list before the end of the year.

Tiu had been long planning to do the listing, but poor market conditions prompted him to postpone it.

The listing will enable the company to expand in the Greater China Region as it hopes to capitalize on improved bilateral relations between Manila and Beijing.

TBCI owns iconic brands Big Chill and Fresh Bar. It is the franchisor of Tully’s Coffee in the Asia-Pacific region. In recent years, it already started offering franchise in major cities in the Philippines and Asia with the fastest growth expected in China.

Tiu expects consumers Tully’s Coffee and Big Chill to be warmly accepted by the consumers from Asia.

He said those who don’t like coffee can enjoy the healthy Big Chill drinks.

The Big Chill was established in 1994 as a new concept serving premium quality blended shakes made with 100 percent fresh-cut fruit, targeting mainly the AB and upper C market segments through its extensive network of shops and kiosks that provide convenient access to fresh fruit shakes anytime, anywhere.

The Fresh Bar, meanwhile, is an expanded concept of Big Chill which offers the same fresh fruit shakes along with a line of hearty gourmet soups, healthy pasta offerings, fresh salads and sandwiches.

ANI, which is engaged in the trading and distribution of fresh fruits and vegetables in the Philippines, acquired TBCI in 2011 as part of its strategy to integrate and complete its vision of becoming a global leader in providing nutrition from farm to fork.