Jollibee Foods Corp , the Philippine fast food specialist known for fried '...
), the Philippine fast food specialist known for fried ‘Chickenjoy’ and chopped hotdogs in sweet spaghetti sauce, is doubling down on expansion plans in the United States and China that are likely to include more M&A.
That would represent a major rejig of revenue streams for Jollibee, which ranks No. 4 among Asia’s listed quick service restaurant firms, and would build upon plans to cut its reliance on its domestic market to 50% of sales in the “medium term”. In the U.S. market, it currently has five including its namesake Jollibee restaurant chain and a minority investment in Tortas Frontera, run by Michelin-starred chef Rick Bayless and which offers Mexican-inspired sandwiches at just three outlets in Chicago’s O’Hare airport.
While noting they tend to buy small, Jollibee executives say they are open to any type of acquisition if the food is good.
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