Following acquisition of US coffee chain, Philippines-based Jollibee eyes to expand in US, China

Philippines-based fast food chain Jollibee Food Corps is planning to expand in the United States, Canada, and China. The expansion plans come following Jollibee’s $350 million acquisition of US coffee chain Coffee Bean & Tea Leaf (CBTL)

These expansion plans are expected to include more mergers and acquisitions.

The fast food chain is eyeing to earn 30% of its revenue in the US in a decade’s time. It is further looking to lift revenue in China to 30% of overall sales, while the Philippines would fall to 30%.

Ernesto Tanmantiong, CEO of Jollibee, said, “We want to spread our portfolio and risk. There’s a huge opportunity out there.”

In 2018, Jollibee Food Corps also acquired Denver-based fast food restaurant Smashburger. As of 2018, the burger chain has 370 outlets located in 9 countries.

Jollibee is aiming to have six brands each in the United States and China. It has 16 brands or franchises to its name.

Currently, Jollibee has five brands in the US market. The Philippines-based chain has three brands in China, including the Dunkin Donuts franchise, as well as the Yonghe King noodle and Hong Zhuang Yuan congee restaurant chains.

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