Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

JFC completes acquisition of brand’s Hong Kong franchisee

JOLLIBEE Foods Corp. (JFC) has completed the acquisition of the majority stake in the Jollibee brand’s master franchisee in Hong Kong, which it considers an important market.

In a stock exchange disclosure on Monday, JFC said its Singapore-based unit Golden Plate Pte. Ltd. finalized the deal on Sept. 1 to acquire 60% of master franchisee Meko Holdings Ltd. for $16.08 million.   

Golden Plate is a wholly owned subsidiary of Jollibee Worldwide Pte. Ltd., which is owned by JFC.    

The remaining 40% of Meko’s shares will still be owned by the franchisee’s shareholders.   

JFC announced the acquisition in April, saying that Hong Kong is an important market for the brand. With the finalized transaction, JFC gets 60% ownership in the once 100% franchised market.

In a previous disclosure, the company said Hong Kong is an important part of JFC China’s strategy “to elevate the Jollibee brand in a general population or mainstream market. Hong Kong is renowned for its relationship with a vast variety of food and attracts both a strong base of local consumers and tourists.”   

As of June, the JFC store network increased by 5.1%. The group has 6,617 stores worldwide, with 3,287 stores in the Philippines and 3,330 international stores across various brands. 

On Monday, shares of JFC at the stock exchange dropped P1.20 or 0.5% to finish at P238.80 each. — Revin Mikhael D. Ochave

Neil Banzuelo

You May Also Like


As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...

Editor's Pick

Standard Chartered Bank (SCB), the oldest international bank in the country,...

Editor's Pick

STOCK PHOTO Image by Alexa from Pixabay SINGAPORE – Nearly all of the world’s population experienced higher temperatures...

Editor's Pick

BW FILE PHOTO The Philippines’ trade deficit further shrank in July...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Secrets Of Richdads. All Rights Reserved.