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Tag: Yonghe King

  • Jollibee Foods JV to open door to Europe

    Jollibee Foods JV to open door to Europe

    Philippine foodservice giant Jollibee Foods (JFC) has entered into a JV agreement with Singapore-based Blackbird Holdings to take the Jollibee brand to the European market.

    JFC’s wholly owned subsidiary Golden Plate has signed the deal with Blackbird to own and run the first Jollibee store in Italy. Golden Plate and Blackbird will incorporate a Singapore company, a 75:25 JV, with Golden Plate holding the controlling stake. The two companies are looking at investing more than US$1 million in the JV.

    Established in 2014, Blackbird has investments both in Singapore and the Philippines in the F&B and other sectors.
    Jollibee says Golden Plate will have full management control of the JV and the first store. Jollibee’s strategy is still to find a territorial franchisee for Italy with the capability to develop and expand the brand there.

    Jollibee has the largest foodservice network in the Philippines and has more than 3290 stores worldwide including such brands as Burger King, Chowking and Red Ribbon. In China it has Dunkin Donuts, Hong Zhuang Yuan, Jollibee and Yonghe King.

    JFC has Jollibee stores in Vietnam (86), Brunei (14), Singapore (4), Hong Kong (3).

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  • Jollibee Winnipeg first Canadian foothold

    Jollibee Winnipeg first Canadian foothold

    Filipino restaurant company and global fast-food chain Jollibee Foods Corporation (JFC) has opened its first Canadian outlet, Jollibee Winnipeg.

    With 35 stores already in North America, it plans to continue its march into Canada with three more outlets next year, at Winnipeg Northgate, Scarborough, and Mississauga, to be followed by Edmonton in 2018.

    In the US, it is also set to open its first store in the state of Florida, in Jacksonville, and its first store for Manhattan, New York.

    “It has been a joy to see the happiness families experience when visiting our locations in the US, and we are thrilled to now bring that same feeling into Canada at such a festive time like this,” says JFC group president for north America and foreign franchise brands Jose Minana.

    “Winnipeg is a fitting choice for Jollibee’s first Canadian store because it has largest density of Filipinos to the total population of the city,” says JFC North America VP/GM Maribeth dela Cruz.

    JFC is currently the largest Asian restaurant company in market capitalisation, working in 12 markets including Brunei, China, Hong Kong, Singapore and Vietnam. It has 3236 stores globally, of which 1111 are Jollibee branded. Other brands in its portfolio are Burger King, Chowking, Greenwich, Hong Zhuang Yuanm Mang Inasal, Red Ribbon and Yonghe King.

    JFC also has investments with the brands 12 Hotpot, Highlands Coffee, Pho 24, Dunkin Donuts in China, and US-based burger chain Smashburger.

  • Jollibee Foods takes over processing unit

    Jollibee Foods takes over processing unit

    Asia’s largest fast food player -Philippines-based Jollibee Foods, is seeking to take full control of China’s Happy Bee Foods Processing.

    The Manila company will buy an extra 30 per cent stake for US$10.4 million.

    Jollibee, which now has a 70 per cent stake in Happy Bee, acquired a 40 per cent share of US-based restaurant brand Smashburger for $99 million last October. It is continuing to scour the region for acquisition targets, with as it pursues its goal of becoming one of the world’s top 10 fast-food brands.

    Jollibee VP Valerie Amante has told the stock exchange its wholly-owned subsidiary Jollibee Worldwide (JWPL) entered into an agreement with Hua Xia Harvest Holdings to acquire its 30 per cent equity shareholding in Happy Bee, which is their joint venture entity.
    Hua Xia will be selling its 3,518,018 shares in Happy Bee at $2.96 a share. Jollibee will acquire the remaining 30 per cent of Happy Bee for about $10.4 million in the form of assets related to the production of food products intended for institutions outside of Jollibee brands in China.
    It is expected the deal, which does not include any cash outlay, will be closed this year.
    “The objectives of the acquisition – essentially an equity share and asset swap – are for Jollibee to concentrate on supporting the growth of its Yonghe King business, and on further improving its food quality and increasing assurance on food safety,” says Amante.

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