Jollibee to open, operate own restaurants in UAE

Fast-food chain operator Jollibee Foods Corp. is expanding to the United Arab Emirates after striking a deal to form a joint venture company that will operate company-owned restaurants in the UAE.

 

In a disclosure to the Philippine Stock Exchange, Jollibee said wholly-owned subsidiary Golden Plate Pte. Ltd. (GPPL) signed a joint venture agreement with Golden Crown Foods LLC (GCFL) to establish a company that will own and operate Jollibee stores in the Emirates.

 

GPPL will own 49 percent of the joint venture while GCFL will own 51 percent, but both companies will practice equal sharing in terms of control and management.

 

The Jollibee Foods group has 42 outlets in the Middle East, with 16 Jollibee stores and 26 Chowking stores – all of which operate under franchising agreement.

 

System-wide sales – a measure of sales to customers visiting company-owned and franchised stores – in the region jumped by 28 percent year-on-year in 2013.

 

As of end-2013, Jollibee operated the largest food service network in the Philippines with 2,181 stores including Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King.

 

The company was also operating 583 stores abroad that included Yonghe King, Hong Zhuang Yuan, San Pin Wang and Chow Fun.

 

It has a 50 percent interest in joint ventures involving Highlands Coffee in Vietnam and Philippines,  Pho 24 in Vietnam, Indonesia, Philippines and Japan, and Sabu in China. – Danessa Rivera/VS, GMA News