Pasay City, Philippines (PressExposure) June 24, 2009 -- One of the most popular fast-food restaurants in the Philippines today is a restaurant that came from a successful shift from an ice cream parlor to one of the world's top fast-food chain. Its successful run in the food service industry was the reason why Jollibee Food Corporation [http://www.expressregalo.com/category.aspx?scid=72&cid=14] now boasts one of the largest number of fast-food chains not only in the Philippines, but across the world. As of end-September, 2008, JFC has 1,490 local and 228 foreign stores in its portfolio. Because of this number, JFC (Jollibee Food Corporation) is now considered as one of the biggest fast-food chains in the world, practically competing with other big fast-food restaurants such as McDonald's, Wendy's, and Burger King.
Jollibee's Never Ending Expansions
JFC's successful food service didn't come from its own collections of fast-food menus, but also because of its expansions through other branches of fast-food restaurants. Jollibee Food Corporation [http://www.expressregalo.com/category.aspx?scid=72&cid=14] first expanded through acquiring Greenwich Pizza. Greenwich started as an over-the-counter pizza store in the Greenhills Commercial Center in Metro Manila in 1971. But it was in 1994, that Jollibee Foods Corporation obtained a deal acquiring 80% of Greenwich shareholding. Then in 2006 Jollibee Foods Corp. bought out the remaining shares of its partners in Greenwich Pizza Corp. The new company was called Greenwich Pizza Corporation, and the franchise experienced rapid expansion. From 50 stores in 1994, as of 2005 there are over 240 stores and an annual revenue of over P4 billion.
After Greenwich Pizza, Jollibee Food Corporation [http://www.expressregalo.com/category.aspx?scid=72&cid=14] then acquired Chowing and Red Ribbon Bakeshop. Chowking is a Philippine-based chain that pioneered the Asian quick-service restaurant concept in the Philippines. The company was founded in 1985 at a time when Western-style burger joints were dominating the Philippine fast food scene. In 2000, the Jollibee Food Corporation acquired Chowking, allowing them to be part of the oriental quick service restaurant market. In 2005, they acquired Red Ribbon Bakeshop, a bakeshop turned fast-food restaurant in the Philippines.
Other than Greenwich Pizza, Chowking, and Red Ribbon Bakeshop, JFC is also acquired other fast-food restaurants such as the French style bakeshop called DÃ©lifrance. This further expanded its penetration in the food service industry, particularly in the French cafe-bakery, a growing segment of the Philippine food market. In September of 2006, the company acquired the remaining 50% stake of Delifrance Asia Ltd. in Baker Fresh Foods Phils., Inc. (BFFPI). This means BFFPI is now a wholly owned subsidiary of Jollibee and that the listed food giant has the exclusive rights to operate Delifrance outlets in the country.
New expansions of JFC included other fast-food restaurants outside of the Philippines. These expansions includes:
* Hong Zhuang Yuan - A Chinese restaurant. * Yonghe King - Chinese fast food chain in mainland China. * Lao Dong in June and Chun Shui Tang - A Taipei restaurant restaurant and teahouse. * Chun Shui Tang - A teahouse on Shanghai's Huaihai Road.