History of Pancake House Philippines Flashcard
1970 Three Pioneering entrepreneurs Milagros Basa, Leticia Zamora, and Carmen Zaragosa, First introduced freshly baked pancakes and waffles in varied flavors and preparations to a predominantly rice-based consuming market. The very first Pancake House restaurant opens in Magallanes, geared to serve the A, B, and upper C markets. 1974 -1998 Sta. Rosa Food Services Corporation (SRFSC) is incorporated to handle the management and operation of Pancake House. Several years later, it would be jointly co-owned by another formidable company, Extrovert Inc.
The posh Ayala Arcade in Makati becomes the new home of the second Pancake House in 1995. Resounding market response spurs a third outlet at United Nations Avenue in Manila. The first franchised outlet opens in Greenhills in San Juan in 1978. Following this successful launch, more Pancake House outlets – both company-owned and franchised – open in strategic sites. The company expands its operations steadily, requiring the setting up of a central commissary to support the logistical and operational needs of the growing number of restaurants. Another company, Extrovert Inc. is established to hold ownership of the succeeding Pancake House outlets in 1998. 2000-2005 After nearly three decades, the Pancake House chain expands to different parts of Central Luzon. Out of a total 22 outlets, three outlets are situated in Laguna and Tarlac, while the rest are Metro Manila. Nine are company-owned and the others are franchised outlets. On February 15, 2000, Martin P. Lorenzo leads a new local investor group in the purchase of all of SRFSC and Extrovert’s operating assets pertaining to the Pancake House chain of restaurants.
The new owners become known as Pancake House, Inc. The bell rings as Pancake House, Inc. is listed at the Philippine Stock Exchange on December 15, 2000 Four years after his successful venture in the casual dining business, Lorenzo directs the company’s brand expertise toward another pioneering brand: Dencio’s Bar and Grill. Pancake House, Inc. acquires Dencio’s from its owner Dencio’s Foods Specialists, Inc. (DFSI). The Philippine Franchise Association awards Pancake House, Inc. as the Most Promising Filipino Franchise of the year (2004). In October 2005 Pancake
House, Inc. purchases 70% share of Teriyaki Boy chain of restaurants, another winner-in-the-making. Pancake House, Inc. emerges as the Most Outstanding Filipino Franchisee of the year (2005). 2006to Present Pancake House, Inc. reaps its highest recognition when it is awarded the Hall of Fame Award. In the year 2007, Pancake House Inc. opens its first overseas outlet in Malaysia. February 8, 2008, Pancake House acquires Boulangerie Francaise, Inc. (BFI) and the brand “Le Coeur de France”. In 2008 Pancake House opens its second outlet in Malaysia.