Jollibee is the Philippines largest fast-food chain and it’s a majority owner of the country’s largest fast-food chains
In 2018, Jollibee acquired Smash Burger, a Denver Colorado company that serves the mid-west and some parts of Florida, was acquired for $210 million. According to Bloomberg Jollibee is on the hunt to acquire more in the future and be a dominant player and grow globally.
The company’s plan is to grow Coffee Bean & Tea Leaves in Asia. It has nearly 1,200 stores in around 25 countries. Chairman Tony Tan Caktiong, among his goals to “become an important player in the large, fast-growing and profitable coffee business.”
JFC foods also invested with famed chef Rick Bayless restaurant, Tortas Frontera and grew its reach in Asia since 2018. Capturing the growth of US Mexican food venues that occupy around 9 percent of the US restaurant market. Planning ahead and capturing the segment in the fast-casual market serving Mexican cuisine and drinks.
With Starbucks growing its reach in Asia, JFC will not only compete with Starbucks but with China-based Luckin Coffee .
JFC foods is set to be one of the largest foodservice chains in Asia with around 4300 restaurants worldwide. Having Coffee Bean & Tea Leaves in its portfolio and compete in the market share with Starbucks growth in Asia.