Jollibee ramps up Middle East presence
Filipino fast food chain Jollibee will ramp up its presence in the Middle East with a new joint venture with a UAE company.
Jollibee Foods Corporation, through its subsidiary Golden Plate, has formed a JV with Golden Crown Foods to own and operate restaurants in the UAE.
JFC currently operates 42 restaurants in the Middle East: 16 Jollibee and 26 Chowking.
JFC, whose brands also include Greenwich, Red Ribbon, Mang Inasal and Burger King, has 2764 restaurants in the Philippines and 583 overseas.
It also has 50 per cent interests in Vietnamese coffee chain Highlands Coffee, Pho and China’s Shabu.
In 2013, Jollibee has seen its net income soar 24.5 per cent, the fastest growth in seven years, boosted by its aggressive local and international outlet expansion.