Pancake House Inc.: History and Development of Business
Pancake House, Inc., a 100% Filipino-owned corporation, is principally engaged in the development, operation and franchising of a casual dining chain of restaurants under the trade name "Pancake House". The consumer brand name has traditionally been associated with specialty pancakes and waffles and has likewise expanded to offer an array of popular international dishes such as spaghetti, tacos and chicken.
The original Pancake House was established in 1970 by Milagros Basa, Leticia Zamora and Carmen Zaragosa to introduce pancakes and waffles to a predominantly rice-based consuming market. The first Pancake House branch opened that same year in Magallanes alongside the old Magallanes Theater. The restaurant positioned itself to serve the A, B and upper C markets.
In 1974, Sta. Rosa Food Services Corporation and Extrovert Holdings were incorporated to hold ownership of the succeeding Pancake House outlets. It successfully opened its first franchised outlet in Greenhills, San Juan in 1978.
On February 15, 2000, a new investor group led by Mr. Martin P. Lorenzo entered into an Asset Purchase Agreement with SRFSC and Extrovert for the purchase of all the operating assets of the latter. On February 16, pending the final purchase, a new team of management and employees was organized to take over the company-owned outlets operated under the new management. On March 1, 2000, the new investor group incorporated Pancake House, Inc. On March 2, 2000, PHI, as the acquisition vehicle of the investor group, finalized the purchase of the operating assets.
Since then, Pancake House has opened numerous branches nationwide and continuously delights customers by delivering the perfect casual dining experience --offering delicious comfort food, serving it well in a warm and homey ambience. These efforts were recognized as the Philippine Franchise Association (PFA) awarded Pancake House as “Most Promising Filipino Franchise” in 2004, followed by “Most Outstanding Franchise”
The original Pancake House was established in 1970 by Milagros Basa, Leticia Zamora and Carmen Zaragosa to introduce pancakes and waffles to a predominantly rice-based consuming market. The first Pancake House branch opened that same year in Magallanes alongside the old Magallanes Theater. The restaurant positioned itself to serve the A, B and upper C markets.
In 1974, Sta. Rosa Food Services Corporation and Extrovert Holdings were incorporated to hold ownership of the succeeding Pancake House outlets. It successfully opened its first franchised outlet in Greenhills, San Juan in 1978.
On February 15, 2000, a new investor group led by Mr. Martin P. Lorenzo entered into an Asset Purchase Agreement with SRFSC and Extrovert for the purchase of all the operating assets of the latter. On February 16, pending the final purchase, a new team of management and employees was organized to take over the company-owned outlets operated under the new management. On March 1, 2000, the new investor group incorporated Pancake House, Inc. On March 2, 2000, PHI, as the acquisition vehicle of the investor group, finalized the purchase of the operating assets.
Since then, Pancake House has opened numerous branches nationwide and continuously delights customers by delivering the perfect casual dining experience --offering delicious comfort food, serving it well in a warm and homey ambience. These efforts were recognized as the Philippine Franchise Association (PFA) awarded Pancake House as “Most Promising Filipino Franchise” in 2004, followed by “Most Outstanding Franchise”