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

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