4 C
Alba Iulia
Friday, July 10, 2020

Jollibee to open first Italy branch

Must Read

Filipinos in Melbourne share their experiences returning to lockdown

Metropolitan Melbourne and Mitchell Shire have returned to Stage 3 Stay at Home restrictions as a result...

Our lives as Filipino-Australians may never be the same again

The onset of the pandemic early this year has been reshaping the landscape of the world as...

Metropolitan Melbourne and Mitchell Shire return to lockdown

By Philip Russo, Monash University and Brett Mitchell, University of Newcastle Metropolitan Melbourne and...

By Leslie D. Venzon

MANILA, April 3 (PNA) — Homegrown fast food giant Jollibee Foods Corp. (JFC) will open its first Jollibee store in Italy as it expands its global footprint.

JFC told the local bourse its wholly owned subsidiary Golden Plate Pte. Ltd. (GPPL) and Blackbird Holdings Pte. Ltd. (Blackbird) will form a Singapore joint venture (JV) company, of which 75 percent is owned by the former and 25 percent by the Blackbird.

The JV will incorporate a wholly-owned Italian subsidiary to own and operate the first Jollibee store in Italy.

“The JV will facilitate Jollibee’s entry in Italy and is an excellent opportunity to introduce the Jollibee brand to the European market,” said JFC.

GPPL and Blackbird have committed to invest up to EUR 1 million (around over PHP53 million) to the JV, of which up to EUR750,000 will be contributed by GPPL in proportion to its ownership in the business.

GPPL shall have full management control of the JV and the operations of the first store.

Blackbird is a Singapore company incorporated in 2014 and currently holds various investments both in Singapore and in the Philippines in the food and beverage, human resource, agriculture and biotechnology sectors.

JFC operates the largest food service network in the Philippines. As of February 28, 2017, it was operating 2,670 restaurant outlets in the country: Jollibee brand 989, Chowking 489, Greenwich 251, Red Ribbon 396, Mang Inasal 469 and Burger King 76.

Abroad, it was operating 620 stores in China, United States, Vietnam, Brunei, Saudi Arabia, Qatar, United Arab Emirates, Kuwait, Singapore, Hong Kong, Bahrain, Canada, Oman and Saudi Arabia.

The JFC Group has a total of 3,290 stores worldwide.

JFC also has a 50-percent interest in joint ventures for the following stores: Highlands Coffee (Vietnam, Philippines) 177, Pho 24 (Vietnam, Indonesia, Cambodia, Korea and Australia) 33, others 8; a 48-percent interest in joint venture for 12 Hotpot (China) 16 and a 40-percent interest in Smashburger with 372 outlets, mostly in the US.

These joint ventures have a total of 606 stores worldwide, which are not included in JFC’s consolidated store count.

Get more stories like this in your inbox!

Sign up for our newsletter and receive regular updates.

- Advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

We value your privacy. Your personal details will not be shared to third parties.

Latest News

Filipinos in Melbourne share their experiences returning to lockdown

Metropolitan Melbourne and Mitchell Shire have returned to Stage 3 Stay at Home restrictions as a result...

Random Posts

East meets West at Casa De Baile

Full house, sumptuous meal, unlimited drinks, fun, entertainment, camaraderie and generosity were experienced at the Casa de Baile held on 13 September 2014 at...

Recent changes to 457 visas and others

I hope you are aware of the recent changes with the sc457, and permanent employer sponsored ENS and RSMS visas. 457 visa recent changes Effective 19...

Apple says customer data safe in Australian photo-sharing scandal

SYDNEY, Oct. 13 (PNA/Xinhua) -- Apple has not found any evidence of its former employees misappropriating customers' data after a photo-sharing scandal was exposed...

Kris says marriage with James is over, bids goodbye to ‘The Buzz’

PART I - VIDEO COURTESY OF ABS-CBN PART II - VIDEO COURTESY OF ABS-CBN “I can say with finality na ako, sumuko na.” Kris Aquino Sunday announced...

More Articles Like This

- Advertisement -