Showing posts with label Jollibee. Show all posts
Showing posts with label Jollibee. Show all posts

Wednesday, April 29, 2020

Chickenjoy supplier Cargill shifts to retail as pandemic chokes restaurant demand


MANILA - Poultry supplier Cargill Philippines said Wednesday it shifted to retail after the COVID-19 pandemic slashed demand from restaurants.

Cargill, which supplies poultry for Jollibee Chickenjoy, turned to new markets such as grocery stores, said its corporate affairs director Chris Ilagan.

Currently, there is an "oversupply" of poultry products, pushing farm gate prices to fall to as low as P30 from P70 per kilo, Ilagan said 

"In the quick service restaurants, we have seen a drastic drop [in demand], the halting of their operations, very minimal coming back online," Ilagan said.

"We have gone into the retail space, we are servicing now groceries, which is beyond us prior to COVID. I guess this is the bright spot and it’s teaching us new ways on how we can potentially serve new markets," he added.

President Rodrigo Duterte extended the lockdown in high risk areas until May 15, where restaurants are only allowed to open for drive thru and deliveries. 



Consumers are likely to stay away from fast food even after the enhanced community quarantine is lifted due to lingering COVID-19 risks, he said.

In general community quarantine areas, where restrictions are fewer compared to ECQ, those aged 20 and below and 60 and above are still required to stay at home, Ilagan said.

"After this COVID-19 pandemic comes to an end and we’re certainly keeping our eyes open on those sort of opportunities," he said.

news.abs-cbn.com

Tuesday, April 7, 2020

Jollibee slashes capex, eyes delivery to recover from COVID-19 lockdown


MANILA - Jollibee Foods Corp said Tuesday it would reduce its planned capital expenditures for the year as the coronavirus pandemic disrupts operations.

Capex for 2020 was cut by 64 percent to P5 billion from P14 billion due to "operational constraints" and "limited mobility" caused by the COVID-19 pandemic, Jollibee told the stock exchange. 

Deliveries accounted for 5 percent of total sales in the early part of 2020, from 3 percent during the same comparable period in 2019, the Philippines' largest fast food operator said. 

Select stores in Luzon were closed from mid-March due to the lockdown, which was extended until April 30. Stores that stayed open were limited to drive thru, takeout, delivery and selling ready-to-cook meals.

Jollibee is eyeing “full restoration” after the lockdown is lifted with its delivery business driving recovery, said CEO Ernesto Tanmantiong.

“While the COVID-19 pandemic has brought unprecedented disruption to our operations in the Philippines and other parts of the world, we are already planning for the full restoration of our operations. We expect growth to resume even if gradually, driven by our Delivery, Take-Out and Drive Thru business channels,” Tanmantiong said. 

Jollibee has donated P100 million worth of food from its brands to frontliners. It would allot another P120 million in food aid for the marginalized sector, JFC said.

source: news.abs-cbn.com

Friday, March 27, 2020

Jollibee 'ready-to-cook' items for sale during COVID-19 lockdown


MANILA - Jollibee Foods Corp said Friday it made available ready-to-cook items in select stores for take-out or drive thru after it closed outlets to dine-in customers during the 1-month lockdown of Luzon.

A limited time offer "ready-to-cook" menu went viral online which includes the marinated and spicy version of its famous Chickenjoy. 

In a response to a Twitter user, Jollibee said "the ready-to-cook-items are available in Jollibee stores nationwide that are open for take out and drive thru, until supplies last."


Ready-to-eat beef tapa, tuna pie, french fries and grated cheese are also available, based on the menu. Participating branches are listed on its official website, JFC said.

Restaurants are allowed to operate take-out and delivery services during the Luzon-wide COVID-19 lockdown effective until April 12.

source: news.abs-cbn.com

Wednesday, March 18, 2020

Jollibee closing some stores in Luzon due to COVID-19 lockdown


MANILA - Jollibee Foods Corp on Wednesday said it would close some stores in Luzon during the COVID-19 lockdown.

Outlets that will stay open will service customers on drive-thru, delivery and take out, the country's largest restaurant operator said in an advisory. 

"We are temporarily closing some of out stores in Luzon as a result of the enhanced community quarantine," Jollibee said.



Contactless delivery will also be imposed with riders standing 6-feet away from consumers during transactions, it said. 

Strict sanitation and social distancing are being observed for stores catering to take-out and drive-thru orders, Jollibee said.

source: news.abs-cbn.com

Friday, January 17, 2020

Jollibee raises $600 million from first ever bond sale


MANILA -- Jollibee Foods Corp said Friday it raised $600 million (P30.5 billion) from its first ever bond issue, which will help fund its overseas expansion.

Proceeds from the sale will be used primarily to finance short-term debt from its acquisition of The Coffee Bean and Tea Leaf, the Philippines' largest fastfood operator told the stock exchange.

It was the first bond issue since Jollibee listed on the stock exchange in 1993. The offer was upsized from $400 million due to strong demand, Jollibee said. The securities will be listed in Singapore.

"The objective of management for this issuance is to further strengthen the balance sheet of JFC to build a stronger foundation for accelerating its growth in order to achieve its vision to become one of the top 5 restaurant companies in the world.

source: news.abs-cbn.com

Friday, October 25, 2019

Chicken out? Serve Chickenjoy: How Jollibee took on McDonald's


MANILA -- Instead of chickening out, Jollibee offered fried chicken and focused on a delicious menu, its CEO said, recalling how the firm took on McDonald's to become the Philippines' largest fast food operator.

When McDonald's entered the Philippines at the start of the 1980s, Jollibee only had 12 stores. The young chain's founder, Tony Tan Caktiong, hired a foreign consultant to map out a strategy, said the current CEO, Ernesto Tan Mantiong.

At that time, Jollibee stores were behind in look, equipment, systems and process, except in one area: taste, Tan Mantiong told a recent dinner roundtable with businessmen in Manila.

"Instead of chickening out, we served Chicken Joy," Tan Mantiong said, referring to Jollibee fried chicken, which it eventually exported to its foreign outlets.

"We were warned that when McDonald's entered the country, it tended to wipe out local competitors. We were told to just give it up and do other businesses and not to confront the global giant," he said. "So Tony sought the help of a foreign consultant, who was an expert in corporate strategy."

ICE CREAM BEGINNINGS



Before setting up Jollibee, Tan Caktiong and his then girlfriend, Grace, set up 2 ice cream parlors, one in Cubao and another in Quiapo from a seed capital of P350,000.

"Since they plan on getting married, they applied for a franchise for their livelihood," Tan Mantiong said.

After a few months of operations, Tan Caktiong and his brothers found out that consumers craved hot meals and burgers, which eventually replaced the ice cream-heavy menu, Tan Mantiong said.

"Since we were now selling primarily hot meals and burgers, we thought it would be good to change the name of our stores," he said.

WHY JOLLIBEE?


Naming the business was a long process, Tan Mantiong said. The word "Jolli" was inspired by a helicopter used during the Vietnam war called "Jolly Green Giant," which the Tan family spotted during an exhibit in Clark, while "bee" was suggested by Tan Caktiong’s wife Grace.

Disney’s Mickey Mouse and Donald Duck were inspirations for the group’s mascot, Tan Mantiong earlier shared in an interview with CNBC.

The country’s largest food operator has since introduced different versions of its logo including "flying bee" and a "standing bee."

ASIA’S PRIDE

Jollibee reached its first 1000th store milestone in 2017. Today it has over 1,400 stores in 16 countries, Tan Mantiong said.

The Jollibee group has 6 brands in the Philippines and over 3,420 stores, he said. Globally, the company has a total of 15 brands and over 5,800 stores in 35 countries, he said. 

Jollibee acquired US-based burger chain Smashburger as well as the Coffee Bean and Tea Leaf brand. It has invested in Mexican-American Tortas Fronteras, and has franchise interests in other global brands such as Panda Express, Dunkin Donuts and Pho24. 

"It is heartening to know that to this day, the Philippines is the only country in the whole world where a local company beat the global leader in its own game," Tan Mantiong said.

"I’ve learned that it is important to always dream big with passion and commitment. Even when we started out, we dream big and even though many thought it was crazy. And it was that crazy dream that brought us to where we are now," he said.

Even after 40 years, founder Tan Caktiong still has his eyes on potential acquisitions or brands with "great tasting food" and a scalable model, his brother and successor said.

Looking back, with a shoebox of letters from his wife Susan to remind him of past challenges, Tan Mantiong said the company he helped build "had come a long way."

"There will be many more challenges along the way, but I truly believe that the best is yet to come," he said.

source: news.abs-cbn.com

Monday, September 16, 2019

Jollibee eyes China, US as next 'pillars of growth'


MANILA - Jollibee Foods Corp on Monday said it planned to have 3 strong pillars of growth, namely the Philippines, China, and the US. 

Jollibee intended to grow its foreign business faster than its local units, the country's largest fastfood chain operator said in a disclosure to the stock exchange. 

"The long-term goals of JFC are to have 3 strong pillars of growth – Philippines, China and USA. However, it does not mean that the Philippine business will slow down, the intention is to have its foreign business grow faster than its Philippine business," JFC said.

JFC aims to fulfill this goal in "10 years or more," the statement said. 

The group has been growing its footprint in the US, with its most recent acquisition of Coffee Bean and Tea Leaf in a deal worth a total $350 million (P18 billion).

Last year, Jollibee took a 47-percent stake in Mexican chain Tortas Frontera. It also took full ownership of US-based burger chain Smashburger.

Jollibee may also open its first store in China in the near future, its CEO Ernesto Tanmantiong said in an earlier interview with CNBC. The group operates the Dunkin Donuts franchise in China. 

In the Philippines, Jollibee, Chowking, Greenwhich, Red Ribbon, Mang Inasal, and Burger King stores are part of the JFC portfolio.

source: news.abs-cbn.com

Wednesday, July 24, 2019

Jollibee to buy Coffee Bean and Tea Leaf for $350 million


MANILA – Jollibee Foods Corp said Wednesday it would buy Coffee Bean and Tea Leaf in a deal worth a total $350 million (P18 billion), the largest in its string of global acquisitions.

The Philippines' largest fast food operator said it would invest $100 million in a new Singapore-based holdings company to acquire 100 percent of the California-based specialty coffee chain.

“The acquisition of The Coffee Bean and Tea Leaf will be JFC’s largest and most multinational so far with business presence in 27 countries,” founder Tony Tan Caktiong said.

Shares of Jollibee were down 6.74 percent at the close of trading on Wednesday, against a 1.04 percent decline in the main index. Investors were worried over Coffee Bean's "lackluster" showing in the last 2 years, said Regina Capital head of sales Luis Limlingan.

"Even though it usually takes around 3 years for JFC to turn its acquired businesses around, it does add challenge considering that the firm is still in the midst of rationalizing Smashburger's operations," he said.

Smashburger is Jollibee's fast casual burger chain in the US that challenges Five Guys and Shake Shack.

Jollibee chases McDonald's, KFC world crown with acquisition binge
https://news.abs-cbn.com/business/01/08/19/jollibee-chases-mcdonalds-kfc-world-crown-with-acquisition-binge

The Coffee Bean and Tea Leaf brand has 1,189 outlets as of December 2018, Jollibee said. It will add specialty coffee to the Jollibee stable which includes hamburgers, fried chicken, pizza and Chinese food.

Java Ventures LLC, a wholly-owned subsidiary of Jollibee Worldwide, will be the acquiring entity. It will also be a wholly-owned unit of the new holding firm, Jollibee said.

Last year, Jollibee took a 47-percent stake in Mexican chain Tortas Frontera, which serves pulled pork, chorizo and beef sandwiches with sides of guacamole and cilantro salsa.

Earlier in 2018, Jollibee invested P1.74 billion to acquire the Asia Pacific master franchise holder of Tim Ho Wan, famous for its barbecue pork buns.

In home turf, the company is expanding its portfolio that includes 3,000 Jollibee, Chowking, Greenwhich, Red Ribbon, Mang Inasal and Burger King stores.

In September 2018, Jollibee announced its 50-50 joint venture with the owners of Panda Express to bring the brand and its signature orange chicken to the Philippines.

In April 2018, Jollibee announced its investment in SuperFoods Group to bring the Vietnamese noodle soup chain PHO24 to the country.

source: news.abs-cbn.com

Sunday, April 28, 2019

Jollibee may open first store in China 'in near future', CEO says


MANILA - Jollibee Foods Corp may expand its home-grown fast food chain brand in China within the next 5 years, its CEO said.

JFC operates a Dunkin' Donuts franchise in China. 

It also has 8 stores in Hong Kong where 40 to 50 percent of customers are "local Chinese," JFC president and CEO Ernesto Tanmantiong told Christine Tan in an exclusive interview for CNBC's Managing Asia. 

"In China, hopefully in the near future we will be able to enter the market," Tanmantiong told CNBC. 

When asked when will the first Jollibee open in the mainland, Tanmantiong said: "We're looking at within 5 years, where we should be able to do that."

The brand's expansion strategy is focused on the areas where there are a lot of Filipinos, expanding to local markets after that, he said. 

"We build the base and slowly cross over to the mainstream market, which is the local market. We have done that successfully in Hong Kong and in Singapore," Tanmantiong said. 

There are 6 stores in Singapore where 50 percent of customers are also locals, he said. 

Last November, JFC said it planned to expand the number of its stores in the US to 150 in 5 years and add 100 branches in Canada. Both countries have many migrants from the Philippines.

Jollibee is also planning to open its first store in Rome and in Spain and is also exploring other markets including Australia, Indonesia and other Southeast Asian countries, Tanmantiong said. 

source: news.abs-cbn.com

Saturday, April 6, 2019

Jollibee opens Guam branch in accelerated North America push


MANILA -- Over a thousand patrons lined up for hours on Saturday to mark the opening of Jollibee in Guam, its 38th store in the US, the Philippines' largest fast food operator said Saturday.

The store's first customer, Landon Laureano waited in line for 12 hours. Located in front of the Micronesia Mall in Dededo, it can seat 205 people.

Jollibee Foods Corp recently announced its accelerated North American expansion plan, which includes growing to 150 locations in the US and 100 in Canada over the next 5 years.

The company continues to expand globally, opening stores in Manhattan in New York, Vietnam, Brunei, Singapore, and Hong Kong.

source: news.abs-cbn.com

Thursday, March 28, 2019

Jollibee, Shopee ads among most popular on YouTube in 2018


MANILA - Online shopping platform Shopee and fast-food chain Jollibee produced some of the top Philippine ads on YouTube in the second half of 2018, Google announced Thursday. 

The YouTube Ads Leaderboard showed Shopee getting the top spot for its viral video featuring Anne Curtis singing a catchy jingle to the tune of Baby Shark.

Shopee's Christmas ad featuring Jose Mari Chan, parodying the earlier Baby Shark ad, also landed at number 6.


Samsung's ad for its Galaxy J8 phone was number 2. It featured the popular Kapamilya loveteam of Enrique Gil and Liza Soberano. 


Safeguard's nearly 4-minute video "Pabaon" meanwhile told the story of Norman King, the first Aeta to graduate from the University of the Philippines. 


Jollibee's 9-minute video "One True Pair: Fight or Flight' was number 5 on the Leaderboard with 5 million views. The video tells a love story between a flight attendant and a one-time passenger. 


A 4-minute video, also by Jollibee, landed at 8. Titled "Biyahe," the video tells the story of a boy and his grandfather who continues to drive a jeepney despite his old age. 

Google said the themes that stood out among the top ads are: 

1) entertaining music and dance videos as seen in the Shopee ads; 

2) creative storytelling as seen in the ads of Jollibee and Safeguard; 

3) celebrities for brands as shown in Samsung's ad using the LizQuen loveteam, and in KZ Tandingan's ad for Coke


“The range of topics, styles, and lengths of ads in the leaderboard show that YouTube is a space where all brands can both find their voice and an audience for their message,” said Gabby Roxas, country marketing manager of Google Philippines. 

source: news.abs-cbn.com

Thursday, December 20, 2018

Jollibee invests in US Mexican food business Tortas Frontera


MANILA - Jollibee Foods Corp on Friday said it has entered into a venture with award-winning Chef Rick Bayless and his Tortas Frontera brand to build a Mexican fast-casual business in the United States.

In a letter to the stock exchange, JFC said it would invest $12.4 million for 47 percent membership interests in Tortas Frontera business founded by Bayless.

JFC said its subsidiary Jollibee Foods Corporation (USA) closed the transaction on Dec. 21, as it sought to expand its presence in North America, the country's largest restaurant operator said. 

Jollibee with Tortas Frontera will build "a significant business" in the fast-growing Mexican food category in the United States. The Mexican food industry in the US had an estimated sales of $40 to $45 billion in 2017, the company said.

"This venture is very much in line with JFC’s mission: to serve great tasting food and spread the joy of eating to everyone," the statement said. 

Jollibee confirmed in July that it was looking to acquire a Mexican brand in the US to challenge the world's top fast food operators. 

Tortas Frontera has 4 restaurants in the US while Jollibee, which recently took full ownership of US burger chain Smashburger, operates a total of 3,079 restaurant outlets in the Philippines.

source: news.abs-cbn.com

Friday, December 14, 2018

Jollibee takes full ownership of Smashburger


MANILA - Jollibee Foods Corp on Friday said it has taken full ownership of US-chain Smashburger, raising its stake from 85 to 100 percent.

In a disclosure to the stock exchange, JFC said its subsidiary Bee Good! Inc has acquired Smashburger Master LLC's 15 percent stake for $10 million.

"JFC is now the sole owner of the Smashburger business," the restaurant operator said.

"We look forward to the development of Smashburger into a very strong brand and business in the United States," JFC Chairman Tony Tan Caktiong said in a statement.

Current Country Head for North America Jose Minana will assume additional responsibility as President of Smashburger, JFC said.

Smashburger has 351 stores, mostly in the United States. Jollibee, meanwhile, operates a total of 3,079 restaurant outlets in the Philippines.

-- with a report by Michelle Ong, ABS-CBN News

source: news.abs-cbn.com

Sunday, November 18, 2018

Jollibee to build more stores in US, Canada


MANILA – Jollibee Foods Corp said Monday it planned to expand its stores in the US to 150 in 5 years and add 100 branches in Canada.

The country's largest fast food operator confirmed the expansions plans in a disclosure to the stock exchange. It was first reported on Bloomberg markets.

Jollibee aims to be among the world's top 5 quick service restaurant operators, according to the disclosure.

Jollibee had said it opened 192 stores in the first half of 2018, spending P8.3 billion in capital expenditures and acquisitions.
It also raised its stake in US burger chain Smashburger to 85 percent and announced plans for a Mexican food venture.
In October Filipinos lined up for Jollibee's first store in London, some of whom came from other parts of Europe. The company opened its first store in the continent, located in Milan, Italy, last May.
Jollibee marked its 1,000th store milestone in the Philippines in July 2017. It also has stores in Vietnam, Hong Kong, Saudi Arabia, Qatar and Brunei.
Last May, Jollibee said it would invest 45 million Singapore dollars (P1.74 billion) in a private equity fund that is set to acquire the master franchise of Tim Ho Wan in the Asia Pacific.
The Filipino company is also eyeing British sandwich chain Pret A Manger, Reuters reported in late 2017.
source: news.abs-cbn.com

Friday, October 26, 2018

Jollibee teases Manhattan branch opening with selfies around New York



MANILA -- Jollibee said it would open a store in Manhattan on Saturday and teased fans with a video of its mascot taking selfies around New York.

The Manhattan store will be launched one week after the Philippines' largest fast food operator opened a store in London, attracting long lines from homesick Filipinos who traveled to the British capital from other parts of Europe.

The Jollibee mascot stopped for selfies in Times Square, Radio City Music Hall, Central Park and the Statue of Liberty in the video, which had 88,000 views as of Friday.

Jollibee did not give an exact time for the opening. New York City is 12 hours behind Manila.

Aside from the eponymous burger and fried chicken chain that is loved by Filipinos, Jollibee also has a stake in American burger restaurant Smashburger and is eyeing a Mexican food venture.

source: news.abs-cbn.com

Saturday, October 20, 2018

Filipinos lead queue to UK's first Jollibee branch


LONDON - Filipinos trooped to Jollibee when it opened its first United Kingdom branch in London's Earl's Court on Saturday morning.

The London branch is Jollibee Food Corporation's second in Europe after it opened in Milan, Italy earlier this year. It adds to over 1,300 Jollibee stores worldwide.

Filipino patrons as well as curious foreigners lined up outside the store hours before the opening.

"This brings the taste of home even closer to them and I would like to congratulate Jollibee for bringing their first store in the UK," Philippine Ambassador to the United Kingdom Antonio Lagdameo said.

Jollibee branches outside the Philippines have been hugely popular among Filipino migrants who come to the store to get a taste and feel of home. 

Michael Sison and his friend Reggie Derecho were the first in line when the store opened at 8 a.m.

Sison, a balloon artist, and Derecho, a caregiver, lined up for 17 hours just to eat Chickenjoy, burger steak and spaghetti.



As early birds, the two took home with them Jollibee dolls and other collectible items.

Sison said Jollibee executives warmly welcomed them too.

"Ang pagtanggap po nila parang feel at home po kami sa loob ng Jollibee, parang nasa Pilipinas po kami," said Sison.

(How they received us, we felt at home inside Jollibee, it was like we were in the Philippines.)


Ernesto Tanmantiong, president and CEO of Jollibee Foods Corporation, also took time out to welcome the youngest person in line, 7-week-old Gabrielle Francis.


Like Sison and Derecho, the baby was also given a Jollibee doll and other toys.

Just like in the Philippines, Jollibee's London branch will also serve its trademark Chickenjoy with rice, Jolly Spaghetti, and Yumburger among others.

“We are very excited because we will be able to provide the taste of home to our kababayans here as well as offering our products to the British people,” Tanmantiong said during the official launch Friday.

Reports say that an all-Filipino crew would man Jollibee's first London store.


The hit Filipino food chain said it would be aggressive with its UK expansion as it targets to open 25 more branches there in the next five years.

“We believe the fried chicken market in the UK is very big and we would like to be a major player in this market,” Tanmantiong said.

“There is a strong match between the strength of Jollibee, the Chickenjoy and the potential of the market here in Europe,” added Dennis Flores, Jollibee's head for International Business in Europe, Middle East and Asia.

There are over 200,000 Filipinos in the United Kingdom and over 800,000 Filipinos spread across Europe, according to a 2013 report of the Commission on Filipino Overseas. - with a report from Rose Eclarinal, ABS-CBN News

source: news.abs-cbn.com

Wednesday, September 26, 2018

LOOK: Cabinet officials, British envoy visit first Jollibee branch in London


LONDON - Home-grown restaurant operator Jollibee on Wednesday shared on its social media account photos of Philippine government officials visiting its first London outlet.

Socioeconomic Planning Secretary Ernesto Pernia, Tourism Secretary Bernadette Romulo-Puyat, Budget Secretary Benjamin Diokno, Finance Secretary Carlos Dominguez, Trade Secretary Ramon Lopez DPWH Secretary Mark Villar and Transportation Secretary Arthur Tugade were among those photographed in front of Jollibee's first store in Earl's Court in UK.

The Cabinet officials are currently in the UK for a high-level economic briefing.

Jollibee Food Corp said its London outlet will open on Oct. 20.

British Ambassador to the Philippines Daniel Pruce said he was among the first lucky customers to get a preview of London's first Jollibee branch.

source: news.abs-cbn.com

Wednesday, September 12, 2018

Jollibee to open stores in UK, Macau, Manhattan and New York


MANILA - The Philippines' largest food operator Jollibee Food Corp. (JFC) on Wednesday said it would open its first stores in the United Kingdom, Manhattan (USA), and Macau (China) as part of its overseas expansion plans. 

The first Jollibee store in the UK will open on Oct. 20, the outlet in Macau will open on Sept. 28, while branches in Manhattan and in New York will open in a few months, JFC said in a statement. 

"JFC is bringing the company’s well-loved brand to Filipinos abroad to give them a taste of home," JFC said. 

Aside from serving Filipinos overseas, Jollibee said it has "seen success" in serving locals, especially in Vietnam and Brunei where most of their customers are locals. 

In Singapore, more than half of its customers are locals, JFC said. 

"JFC envisions to continue replicating its success in the Philippines, Vietnam, Brunei, Hong Kong and Singapore in other markets soon," it said. 

The company hopes to be among the world's top 5 largest restaurant companies in terms of market capitalization. To do that, JFC is focusing on the two largest economies, namely China and the US, while sustaining growth in the country. 

JFC recently announced its plans to build a "significant" Mexican food business in the US. It also recently raised its stake in Smashburger to 85 percent for $100 million.

The company in March also opened a Jollibee branch in Milan, Italy its first in Europe.

source: news.abs-cbn.com

Tuesday, April 17, 2018

Jollibee gets US gov't approval for Smashburger deal


MANILA - Jollibee Foods Corp said Tuesday it secured US government approvals for its acquisition of an additional 45-percent stake in Smashburger.

The transaction will raise the stake of Jollibee unit Bee Good! Inc in Smashburger to 85 percent, giving it a "more significant business" in the US, the Philippines' largest fast food operator told the stock exchange.


Jollibee said the share purchase agreement between Bee Good Inc! and Smashburger Master LLC was approved by the US Federal Trade Commission and the Department of Justice.

Jollibee Foods has 37 outlets of its eponymous restaurant in the US, offering its signature fried chicken and burgers to homesick Filipinos.

The company also recently opened new stores in Canada and Italy, marking its first foray into Europe.

source: news.abs-cbn.com

Monday, March 19, 2018

Ciao Italy: Jollibee opens first store in Europe


MILAN - Filipinos thronged the opening of Jollibee's first European store here for a taste of the fried chicken and spaghetti from back home.

Patrons lined up outside the store, some coming from Turin, Rome, Venice and Florence and even other parts of Europe like Switzerland and Denmark.

"Na-excite lang ako nung malaman ko na magkakaroon ng Jollibee rito. Pumunta ako dito kahit apat na oras ang byahe," said customer James Abanilla.

(I was excited when I learned that Jollibee will open here, even if I traveled for four hours.)

Swiss national Frank Fausch said he and his family traveled five hours from Swtizerland to Milan.

"I know that it’s good so we want to taste again," he said.

Italy is home to the seventh biggest population of expatriate Filipino workers, with close to 272,000 people working there in 2013, according to data from the Commission on Filipinos Overseas.


Jollibee Milan has an all-Filipino crew. Labor Sec. Silvestre Bello said he hoped the company would expand to other parts of Europe, bringing more job opportunities to Filipinos.

"It is a symbol of Filipino ingenuity. Talagang kayang-kaya nating iharap ang galing natin sa entrepreneurship," he said.

(It is a symbol of Filipino ingenuity, that we can really hold our own when it comes to entrepreneurship.)

source: news.abs-cbn.com