Figaro to spin off Angel's Pizza business

Figaro Culinary Group, Inc. said its board has approved a plan to spin off its Angel's Pizza business.

The new company, Angel's Pizza, Inc., will be wholly owned by Figaro's operating subsidiary Figaro Coffee Systems, Inc., according to a statement Friday.

All Angel's Pizza assets held by Figaro Coffee will be transferred to the new company in exchange for shares.

The transaction is expected to close in 2026, following regulatory approvals, Figaro Group said.

After the restructuring is completed, Angel's Pizza, Inc. will own and operate the Angel's Pizza business, the company added. (Marites Villamor-Ilano/Ventures Cebu)