LIST: Brands operated by Jollibee Foods Corp.

Homegrown fast-food operator Jollibee Foods Corp. announced Wednesday it will spend $100 million to acquire Los Angeles-based specialty coffee and tea brand The Coffee Bean & Tea Leaf.

In a disclosure to the stock exchange, JFC Chairman Tony Tan Caktiong described the transaction as “the largest and most multinational so far.”

“CBTL will be JFC’s second largest business after Jollibee brand while coffee business will account for 14% of JFC’s worldwide system sales,” Caktiong explained.


Coffee Bean is the latest addition to the growing number of brands operated by JFC, which has been aggressively expanding its global footprint by opening Jollibee stores overseas and acquiring foreign brands.

Here are other brands under the Philippines’ biggest food service operator:



Tim Ho Wan

In May 2018, Jollibee Food Corporation announced that it has acquired the master franchise of Tim Ho Wan, a Michelin-star dim sum restaurant chain in Asia Pacific,for SG$45 million (₱1.74 billion) from its private equity fund investment Titan Dining Partners Limited.

Tim Ho Wan Private holds the exclusive long-term master franchise to run Tim Ho Wan within the Asia Pacific region, excluding ones in Hong Kong. Dim Sum Private, on the other hand, owns and operates Tim Ho Wan chains in Singapore.


"This investment gives JFC the opportunity to have a significant interest in the Tim Ho Wan franchise in the long term and will bring very healthy financial returns to [the company]," said Jollibee chairman Tony Tan Caktiong in a statement.

To prepare for that, Jollibee will operate as a franchisee of Tim Ho Wan in Shanghai, China.

Tim Ho Wan Private also has franchisees in Cambodia, Indonesia, Japan, Macau, Taiwan, Thailand, Vietnam, Australia, and the Philippines, with further development planned in the Asia Pacific.


Chowking

JFC’s acquisition of Chowking Foods Corp. was completed in March 2000. The Oriental fast food chain has 590 stores at home and 47 stores abroad.


Greenwich

In 1994, JFC ventured into the pizza-pasta segment with its acquisition of Greenwich Pizza Corp. As of end-June, there are 284 Greenwich stores in the country.


Red Ribbon

In 2005, JFC bought Red Ribbon Bakeshop as part of its goal to be a major global food service company. The cake and pastry restaurant chain — which also serves popular Filipino dishes and confectionaries — has 479 stores nationwide and has 31 branches in the US.


Mang Inasal

JFC acquired the 70% stake of barbecue fast-food chain operator Mang Inasal in 2010 as part of continuing efforts to beef up its business portfolio. In 2016, JFC got full control of Mang Inasal after buying the remaining 30% stake held by the Sia family for P2 billion.

Mang Inasal currently has 577 stores in the Philippines.


Burger King

In 2011, JFC struck a deal to take over a firm that operates the Burger King franchise in the Philippines for P65.5 million, giving the local fast-food giant a foothold in the premium hamburger segment.

Burger King — which is famous for its Whopper burgers — has 101 stores in the country.


Pho 24

In April last year, JFC announced it will bring Vietnamese noodle house Pho 24 to the Philippines through JFC’s wholly-owned subsidiary Fresh N’ Famous Foods Inc., which also runs fast-food chain Chowking.

Pho 24, which serves rice noodles soup called “pho” and other traditional Vietnamese dishes, forms part of the SuperFoods Group — JFC and Viet Thai International’s 60-40 joint venture.

Pho 24 has one store in the Philippines and 34 branches outside.


Yonghe King

In 2004, JFC acquired its first foreign brand – Shanghai-based fast-food business Yonghe King.

Yonghe King is JFC’s largest business in China with 323 stores.


Hong Zhuang Yuan

JFC in 2008 sealed a deal to acquire 100% of Hong Zhuang Yuan — a chain of restaurants located mostly in Beijing, China — for $55.5 million.

Hong Zhuang Yuan, which serves mainly congee dishes, currently has 45 stores in China.


Dunkin’ Donuts

A tandem led by JFC finalized in 2015 an agreement to be the exclusive operator of the Dunkin’ Donuts brand in China with nine stores there.

Dunkin’ Donuts is considered as one of the world’s leading baked goods and coffee chains, serving more than five million customers daily worldwide.


Highlands Coffee and Hard Rock Cafe

Prior to its acquisition of Coffee Bean, JFC has been in the coffee business in Asia through a joint venture between its wholly-owned subsidiary JSF Investments Pte. Ltd. and Viet Thai International Joint Stock Co.

Under the transaction, Singapore-based JSF Investments owns a stake in SuperFoods Group, which owns and operates various brands including Highlands Coffee Shops in Vietnam, Highlands Coffee Packaged Products and Hard Rock Café franchised stores in Macau, Hong Kong and Vietnam.


Smashburger

JFC announced in 2018 it has taken 100% ownership of Colorado-based Smashburger, a famous casual burger brand.

Smashburger serves fresh 100% certified Angus beef burgers. It currently has 345 stores.


Panda Express

Jollibee Foods Corporation (JFC) and Panda Restaurant Group, Inc., America’s largest family-owned and operated Chinese American restaurant concept, have recently incorporated their joint ventures (JV) company JBPX Foods, Inc.

In a disclosure to the Philippine Stock Exchange, Jollibee said the 50-50 joint venture will bring Panda Express restaurants to the Philippines with an initial capital of P250 million.

Profit sharing shall be in accordance to the 50-50 ownership. The JV Company shall have its own management with JFC providing support.


Tortas Frontera

Jollibee Foods Corp in 2018 entered into a venture with award-winning Chef Rick Bayless and his Tortas Frontera brand to build a Mexican fast-casual business in the United States.

In a letter to the stock exchange, JFC said it would invest $12.4 million for 47 percent membership interests in Tortas Frontera business founded by Bayless.

Jollibee with Tortas Frontera will build "a significant business" in the fast-growing Mexican food category in the United States. The Mexican food industry in the US had an estimated sales of $40 to $45 billion in 2017, the company said.

"This venture is very much in line with JFC’s mission: to serve great tasting food and spread the joy of eating to everyone," the statement said.


The Coffee Bean & Tea Leaf

As of July 24, 2019, Philippine-based Jollibee Foods Corporation, announced a $350 million acquisition of U.S. California-based company, The Coffee Bean & Tea Leaf, alongside $100 million investment in the company.[citation needed]

In a disclosure to the stock exchange on Wednesday, the JFC said its wholly owned unit, Jollibee Worldwide Pte. Ltd. (JWPL), entered into an agreement to invest $100 million in a new Singapore-based holding firm that will acquire 100% of the CBTL brand.


JFC said the total consideration for the transaction is $350 million on a debt-free basis, which means that CBTL will have no debt upon acquisition.

ALSO READ: Jollibee acquires entire Coffee Bean & Tea Leaf chain

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This article first appeared on Philippine Star.