Jollibee Foods Corporation

Jollibee Foods Corporation(abbreviated asJFCandJollibee Group;also known asJollibeeafter its primary fast food brand) is a Philippinemultinationalcompany headquartered inPasig,Metro Manila,Philippines. JFC is the owner of the fast food brandJollibee.
With the success of its flagship brand, JFC acquired some of its competitors in the fast food business in the Philippines and abroad such asChowking,Greenwich,Red Ribbon, andMang Inasal.As of September 2022,JFC operates more than 6,300 stores worldwide,with system-wide retail sales totaling₱210.9 billion.
In 1975,Tony Tan Caktiongand his family opened aMagnolia Ice Creamparlor inCubao,Quezon Citywhich is credited as the first Jollibee outlet.The Magnolia outlets operated by the Tan Caktiong clan began offering hot meals and sandwiches upon request from the customers which the family found out to be more popular than the franchise's ice cream. In 1978, the family decided to cancel the Magnolia franchise and converted the ice cream parlors they operated into fast food outlets.Management consultant Manuel C. Lumba advised the family on the move.
The Jollibee Foods Corporation was incorporated in January 1978.It opened its first store overseas opened in Singapore in 1985 at theKatong Shopping Centre;that location closed only a year later
Jollibee experienced rapid growth. It was able to withstand the entry ofMcDonald'sin the Philippines in 1981 by focusing on the specific tastes of the Filipino market, which differed from the American fast food company.On July 13, 1993, JFC was listed at thePhilippine Stock Exchange.
In 2011, JFC opened 260 new stores, of which 167 were in the Philippines led byMang Inasal(86) andJollibee(40). This brought the company's total number of stores to 2,001 as of the end of December 2011. The same year, Jollibee closed Manong Pepe foodchain in favor of Mang Inasal,and sold Délifrance to CaféFrance.Overseas, Jollibee opened 93 stores, led by Yonghe King in China (70) and Jollibee Vietnam (11).
It has 1,668 locations across 17 countries as of July, 2024 with its recent opening in Canada, the brand's 100th store in North America.
In December 2017, JFC was a victim of adata breachbyhackerswho gained access to the customer database of the Jollibee website. In May 2018, Jollibee's online food delivery operations were suspended as a result of the breach, in compliance with theNational Privacy Commission's directive.
In June 2024, the company was a victim of another data breach by hackers which affected its 32 millionfood deliveryservice customers.
JFC acquired 80% ofGreenwich Pizza, a fast-food restaurant specializing in pizza and pasta, in 1994. From a 50-branch operation,Greenwichgradually established a strong presence in the food service industry. In early 2006, the company bought out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for₱384 millionin cash.
In 2000, the company acquiredChowking, a Chinese fast-food restaurant, thus making it a part of the Chinese quick service restaurant segment.
In 2005, the company acquiredRed Ribbon, a bakeshop business.
On October 19, 2010, the company acquired 70% share ofMang Inasal, a Filipino fast-food restaurant specializing in barbecued chicken, for₱3 billion($68.8 million).On April 22, 2016, the company bought out the remaining shares of its partner, equivalent to a 20% stake, for₱2 billionin cash.
JFC subsidiary Fresh N' Famous Foods, Inc. manages the Greenwich and Chowking brands. The Red Ribbon brand is under Red Ribbon Bakeshop Inc. which in turn is managed by a holding company of the JFC, RRB Holdings, Inc. The company also has stakes onBurger King's outlets in the Philippines through Perf Restaurants, Inc. which is 54 percent owned by JFC as of 2012.
JFC has stakes in restaurant chains based or originating outside the Philippines such as in Mainland China, Taiwan, South Korea, Canada, and the United States, as well as master franchises of foreign brands in the Philippines.
In 2004, JFC acquiredChinesefast food chainYonghe Kingfor $22.5 million.
In 2006, the company purchased Taichung-basedChun Shui Tangtea house.
In 2007, the company acquired Chinese fast-food chain Hong Zhuang Yuan for $50.5 million.
In 2008, the company purchased 70% of Taiwan-based restaurant Lao Dong.
In 2009, the company divested its shares from Lao Dong and Chun Shui Tang, in an effort to focus on bigger restaurant chains in mainland China.
In 2010, the company signed a deal to acquire 55 percent ofChina'sGuangxiSan Ping Wang Food and Beverage Management Co. Ltd., operators of the San Pin Wang beef noodle business for 30 million RMB.However, the company divested its shares in San Ping Wang Food and Beverage Management Co. Ltd. in 2017 to focus on Yonghe King.
In 2015, the company formed a joint venture with Jasmine Asset Holdings Ltd. to operate theDunkin' Donutsmaster franchise in China.However, the company announced the termination of the master franchise deal in 2022.
In May 2018, the company announced that it acquired a 45% stake in the master franchise ofTim Ho Wan, a Michelin-star dim sum restaurant chain in Asia Pacific, forSG$45 million from its private equity fund investment Titan Dining Partners Limited. Tim Ho Wan Private holds the exclusive long-term master franchise to run Tim Ho Wan within the Asia Pacific region, excluding ones in Hong Kong. Dim Sum Private, on the other hand, owns and operates Tim Ho Wan chains in Singapore.The company later acquired full control of the ownership and management of the Tim Ho Wan business in 2025 through wholly owned subsidiary, Jollibee Worldwide Pte. Ltd (JWPL), by buying out the remaining stake of Titan Dining Partners Limited.
In November 2021, the company announced that it acquired a 51% stake in Taiwan-basedbubble teachain Milksha for $12.8 million.
In January 2025, the company announced itsmajority-ownedsubsidiaryMilksha acquired a 70% stake in Taiwan-based Tien Hsia Sheng Co., Ltd.'s Moon Moon Food.
TheYonghe Kingand Hong Zhuang Yuan chains are under JFC's SuperFoods Group.
Its restaurants in mainland China are responsible for about 12% of the company's total sales, mostly through chains it has acquired.
In 2011, JFC acquired 50% of SuperFoods Group, the owner and operator of theHard Rock Cafefranchise in Vietnam,Highlands Coffee, and PHO24.
In 2012, the company acquired a 50% stake in Highlands Coffee then increased this stake to 60% in 2017.
In 2018, the company announced plans to launch PHO24 in the Philippines.However, in 2023, the company sold assets of said chain to East-West Restaurant Concepts, a wholly-owned subsidiary of Viet Thai International Joint Stock Co. and instead aimed to focus on growing its new businesses at the time in Tim Ho Wan, Yoshinoya, and Milksha.
In July 2024, JFC'ssubsidiary, Jollibee Worldwide Pte. Ltd., acquired $340 million shares ofBusanCompose Coffee (Coffee Co. Ltd. and JMCF Co. Ltd. which have 2,612 stores inSouth Korea), leaving Titan Dining II LP and Elevation Equity Partners Korea Limited to retain 5% and 25%, respectively.
In July 2008, JFC acquired a stake in US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro inNew Mexico, in which Jollibee acquired a 12% stake for $950,000 and later increased its stake to 80.55% in 2011. However, the company divested its shares in Chow Fun Holdings LLC in 2016 to focus on its larger businesses in the US.
In October 2015, the company announced that it had acquired a 40-percent stake inSmashburgerin a deal that values the American fast-casual burger chain at $335 million.In December 2018, Jollibee acquired 100 percent of the shares in Smashburger, gaining full control of the American hamburger chain.
On September 7, 2018, the company announced its acquisition of a 47% stake in US-based Mexican food restaurant, Tortas Frontera ofRick Baylessfor $12.4 million.
In July 2019, the company announced that it acquiredThe Coffee Bean & Tea Leaf.
In 1995, JFC jointly opened a Philippine branch ofDélifrancewith master franchisee Delifrance Asia Ltd. The company became the sole franchisee of the bakery chain in the Philippines in 2006 through its subsidiary Fresh N' Famous Foods. The franchise agreement between the company and Délifrance Asia ended on December 31, 2011, and assets of Délifrance in the Philippines were sold to CafeFrance Corp.CafeFrance Corp. intended to use all of the bought assets as its initial capital for a cafe chain under the a new brand name.
In October 2011, the company acquired a 54% stake in BK Titans, Inc., the sole franchisee ofBurger Kingin the Philippines.
On September 27, 2018, the company announced its 50-50 joint venture with Chinese-American restaurant chain,Panda Expressto bring its stores to the Philippines.On July 8, 2019, both JFC and Panda Express' parent company,Panda Restaurant Groupformed their joint venture company, JBPX Foods, Inc. after its incorporation by theSecurities and Exchange Commission.
On February 16, 2021, the company announced that it entered into a 50-50 joint venture with Yoshinoya International Philippines to establish a company that would serve as the franchisee ofYoshinoyain the country, with plans to open 50 stores in the country in the long-term.
On August 4, 2023, the company announced that it entered into a joint venture with Food Collective, Pte. Ltd. (FCPL), with the company owning a 60% stake and FCPL owning a 40% stake, to openTiong Bahru Bakeryand "The Common Man Coffee Roasters" in the Philippines.In January 2024, it opened its first Common Man Coffee Roasters outlet atAyala Triangle Gardens.In January 2025, it opened its first Tiong Bahru Bakery outlet atVerve Residences Tower 2.
JFC jointly opened a Philippine branch ofDélifrancewith master franchisee Delifrance Asia Ltd. The company became the sole franchisee of the bakery chain in the Philippines in 2006 through its subsidiary Fresh N' Famous Foods. The franchise agreement between the company and Délifrance Asia ended on December 31, 2011, and assets of Délifrance in the Philippines were sold to CafeFrance Corp.CafeFrance Corp. intended to use all of the bought assets as its initial capital for a cafe chain under the a new brand name.
The company also managed Manong Pepe, a food chain patterned after thecarinderiauntil 2011. Initially named Tio Pepe's Karinderia, the now defunct chain was meant to cater to people from the lower classes, particularly those from the socioeconomic class D demographic.JFC discontinued the Manong Pepe business on April 9, 2011.
The company owned PHO24, a Vietnamese noodle chain, from 2018 to 2023. The company sold assets of said chain to East-West Restaurant Concepts, a wholly-owned subsidiary of Viet Thai International Joint Stock Co. and instead aimed to focus on growing its new businesses at the time in Tim Ho Wan, Yoshinoya, and Milksha.
In China, Jollibee Group formerly owned stakes of Shanghai-based Lao Dong and in Taiwan, Taichung-basedChun Shui Tanguntil 2007and a stake in San Pin Wang until 2016.In 2022, the company also announced that its subsidiary terminated the master franchise agreement forDunkin' Donuts,  which covers mainland China, Hong Kong, and Macau.
JFC and the Viet Thai International Joint Stock Company formed a joint venture named Superfoods Group, which owns and manages the Vietnamese coffee chain brand,Highlands Coffee. In November 2016, the two companies agreed to list Superfoods as a public company in a stock exchange by July 2019.
In October 2016, the company andCargillformed a joint venture, C-Joy Poultry Meats Production, and broke ground on a new poultry processing facility atSanto Tomas,Batangasin the Philippines. The facility will be expected to process 45 million chickens per year.
On September 27, 2018, the company announced its 50-50 joint venture with Chinese-American restaurant chain,Panda Expressto bring its stores to the Philippines.On July 8, 2019, both JFC and Panda Express' parent company,Panda Restaurant Groupformed their joint venture company, JBPX Foods, Inc. after its incorporation by theSecurities and Exchange Commission.
On February 16, 2021, the company announced that it entered into a 50-50 joint venture with Yoshinoya International Philippines to establish a company that would serve as the franchisee ofYoshinoyain the country, with plans to open 50 stores in the country in the long-term.
On August 4, 2023, the company formed a joint venture with Food Collective, Pte. Ltd. (FCPL), with the company owning a 60% stake and FCPL owning a 40% stake, to openTiong Bahru Bakeryand "The Common Man Coffee Roasters" in the Philippines.
In February 2024, the company and Republic Cement signed theMemorandum of understandingto support theExtended producer responsibilityLaw: on "recoveringpost-consumer plastic packaging waste, diverting it away from the landfills and waterways, and sending it to Republic Cement forco-processing. Republic Cement will use the collected packaging waste as alternative fuel in the cement manufacturing process."In the same month, the company andFirst Gen Corporationalso signed an agreement to "shift to renewable energy by operating 6,300 solar panels in itsCanlubangBaking Facility.
According to theDepartment of Labor and Employment(DOLE) in May 2018, JFC has the most workers who are employed under a labor-only contracting (LOC) program.