AgriNurture Inc. expects to set up its first Tully’s Coffee shop within the first half of the year, diversifying the company’s business from fruit and vegetable export and distribution.
Antonio Tiu, AgriNurture president, said the company is laying the groundwork for a chain of the US-based business all over the country.
"It will be a new experience. Being in the coffee business will be good for us and the people as well," said Tiu.
AgriNurture told the Philippine Stock Exchange its board of directors approved on Friday the signing of a master license agreement for Tully’s Coffee through Singapore-based Tully’s Coffee International Pte. Ltd.
Tiu declined to reveal the value of AgriNurture’s acquisition of the master franchise for the Philippines.
AgriNurture is set to establish growing contracts with coffee farmers for the needs of the new business as well as those of the other Tully’s Coffee locations in Asia such as Japan, Singapore, and Korea.
Tully’s Coffee shops serve specialty coffee, baked goods, pastries, and coffee-related supplies.
For its initial stores, AgriNurture is looking at Class A areas in Metro Manila.
Franchising will follow after a few years, Tiu said.