The purchase “reinforces the company’s commitment to its Chinese cuisine segment and franchising initiatives, while providing entry into the global hot pot category,” Jollibee said.
(Feb 20): Jollibee Foods Corp, the Philippines’ largest restaurant operator, said it signed a definitive agreement to acquire a Korean hot pot brand for around US$87 million.
A subsidiary will buy All Day Fresh Co Ltd, which is behind Seoul-based hot pot and eat-all-you-can chain Shabu All Day, Jollibee said in a statement on Friday.
