Pasay City, Philippines (PressExposure) February 22, 2009 -- One of the many reasons why Jollibee Food Corporation became one of the biggest known fast-food restaurant all over the world is because of its rapid expansions through different major fast-food restaurants known today. These restaurants are Greenwich Pizza, Chowing, and Red Ribbon Bakery [http://www.expressregalo.com/category.aspx?scid=5&cid=2].
To penetrate the pizza-pasta segment, Jollibee Food Corporation have decided to acquire Greenwich Pizza. Greenwich started as an over-the-counter pizza store in the Greenhills Commercial Center in Metro Manila in 1971. In 1994, 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., equivalent to a 20% stake, for P384 million in cash.
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. Greenwich Pizza is now the largest pizza chain in the Philippines.
Next, Jollibee then acquired Chowking, allowing Jollibee to be part of the Oriental quick service restaurant segment. Chowking is a Philippine-based chain that pioneered the Oriental quick-service restaurant concept in the Philippines.In 1989, Chowking started expanding its market share amid the volatility in the domestic market. On January 1, 2000, Chowking became a wholly owned subsidiary of Jollibee Foods Corporation. The change in ownership gave rise to store renovations and a new corporate look and mindset that is visible from front-end to back-end.
After its two successful expansions, Jollibee then entered a new market, the cakes and pastries segment. This is achieved through Red Ribbon Bakery [http://www.expressregalo.com/category.aspx?scid=5&cid=2]. Red Ribbon Bakery is a popular fast-food chain and bakery in the Philippines and the United States, offering a wide range of cakes and pastries.
The chain began in the Philippines in 1979 in Quezon City along Timog Avenue and started franchising in 1999. In 1984, they opened their first US branch in West Covina, California. In 2005, Red Ribbon was acquired by Jollibee Foods Corporation, a conglomerate of popular fast-food chains in the Philippines.
Today, Red Ribbon Bakery has grown to over 170 outlets all over the country and 19 stores in the US. It currently has 6 commissaries nationwide and 3 in the US.
But other than Chowing, Greenwich Pizza, and Red Ribbon Bakery [http://www.expressregalo.com/category.aspx?scid=5&cid=2], Jollibee's other expansions includes DÃ©lifrance and a more recent acquisition called the Manong Pepe's. As of end-September, 2008, JFC has 1,490 local and 228 foreign stores in its portfolio.