Shakey’s to Buy Potato Corner

Shakey’s Pizza Asia Ventures will acquire the assets and intellectual property of popular flavored fries kiosk brand Potato Corner, it said in a stock exchange filing on Dec. 24.

The acquisition will also involve “owning and operating all company-owned stores, as well as serving as brand-owner and franchisor of stores being operated by franchisees both domestically and internationally.”

Established in 1992, Potato Corner has more than 1,000 outlets in the Philippines, as well as a growing presence abroad.

Shakey’s, which opened 30 net new stores this year, expects the acquisition to boost its global presence in more than 10 countries and diversify its income and revenue streams.

Financial terms of the deal were not disclosed.