Pasay City, Philippines (PressExposure) September 01, 2009 -- Jollibee is considered in the food service industry of the Philippines as the biggest fast-food chain in the country, along with being one of the biggest corporation in the Philippines, the Jollibee Food Corporation. Jollibee Food Corporation, or JFC, was built from a simple Magnolia Ice Cream Parlor in Cubao into one of the most popular branch of fast-food chains in the Philippines, until it was the sole owner of other popular fast-food chains in the Philippines. Other than their own brand, JFC is also the owner of other popular local fast-food chains including Chowking, Greenwich Pizza, Red Ribbon Bakery, DÃ©lifrance and Manong Pepe's.
JFC's Growth Jollibee Foods Corporation, or JFC, has been honored with numerous recognitions by several awarding bodies. As of December 2007, according to their Jollibee philippine website [http://www.expressregalo.com/category.aspx?scid=67&cid=14], Jollibee has become one of the biggest fast-food chains in the world with 1,655 stores worldwide and total sales of more than US$1 billion. JFC's growth isn't only because of the restaurant's popularity, particularly with the children, but also because of their expansions through several fast-food chains.
Expansions Other than their own brand name, JFC also owns other popular fast-food chains across the country. This includes Chowking, Greenwich Pizza, Red Ribbon Bakeshop, DÃ©lifrance and Manong Pepe's. The company acquired 80% of Greenwich Pizza in 1994, enabling it to penetrate the pizza-pasta segment. From a 50-branch operation, Greenwich has established a strong presence in the food service industry. In early 2006, Jollibee Foods Corp. bought out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for P384 million in cash.
In 2000, the company acquired Chowking, allowing Jollibee to be part of the Asian quick service restaurant segment. In 2005, they acquired Red Ribbon Bakeshop, another popular restaurant chain in the Philippines. According to their Jollibee philippine website [http://www.expressregalo.com/category.aspx?scid=67&cid=14], in 2006, the company acquired the franchise of 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.
Other than these fast-food chains, JFC have also acquired several foreign fast-food chains in neighboring Asian countries. In 2007, Jollibee acquired the Chinese fast-food chain Hongzhuangyuan. Jollibee purchased 70% of Taipei restaurant Lao Dong in June and Chun Shui Tang tea house in 2006. In 2004, Jollibee acquired Chinese fast food chain Yonghe Dawang for $22.5 million. According to their Jollibee philippine website [http://www.expressregalo.com/category.aspx?scid=67&cid=14], JFC have also entered into a joint-venture contract with US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro in New Mexico, in which Jollibee will have a 12% stake for $950,000.