Filipino fast-food giant Jollibee claims it is now Asia’s most valuable restaurant chain.
Jollibee is now the leading restaurant chain in terms of market capitalisation across Asia and the second highest among QSRs globally, says Jollibee Foods Corporation (JFC) CEO Tony Tan Caktiong.
“According to our estimate, JFC would generate the largest sales by 2014 or 2015. For all intents and purposes, your company has achieved its vision of becoming the No. 1 Asian restaurant company,” he told stockholders.
He says Jollibee will continue its domestic and overseas expansion, eyeing to acquire a fast food chain in the US.
“We are open to anything that may come up. It could be in the same category. We are still very flexible. More important is we want to go to a brand that is already growing. We don’t want to go in a brand that needs to be turned around,” he said.
CFO Ysmael Baysa added Jollibee plans opening 300 new outlets this year, 200 in the Philippines and 100 abroad.
Indonesia and Canada are likely to become new markets for Jollibee.
The company is currently in eight overseas markets including Vietnam, Brunei, Hong Kong, Singapore, US, Saudi Arabia, Qatar and Kuwait.