JFC confirmed a BusinessMirror report quoting Jollibee chairman Tony Tan Caktiong as saying a brand with a $1-billion market capitalization would be right for the company.
"It should be a strong regional brand so that we can expand. We don't want a brand that's already big," Tan Caktiong was quoted by BusinessMirror as saying.
Since the acquisition may be too big for Jollibee, he said the company may consider tapping a partner.
Jollibee wants to boost the revenues from overseas stores. At present, the company has less than 1,000 stores overseas and over 2,200 stores in the Philippines.
"We’d like to target 50-50 revenue sharing between Philippine stores and overseas stores. But we cannot do that yet because the Philippine (business) keeps growing so the ratio was kept at 80-20," Tan-Caktiong said.
source: www.abs-cbnnews.com
