Jollibee Foods Corporation (JFC), operator of the eponymous fast food chain famous for its crispy fried chicken, is buying a majority stake in Taiwanese company Milkshop International Co Ltd in the Philippine company's first foray into the bubble tea sector that could bring it closer to its goal of being one of the world's largest restaurant businesses. JFC said its.
Published June 25, 2021, 8:00 AM
Jollibee Foods Corporation (JFC) and its subsidiaries, Fresh N’ Famous Foods, Inc. (FNF) and Mang Inasal Philippines, Inc. (MI), has entered into a license agreement with Milkshop International Co., Ltd., a popular Taiwanese Bubble tea brand.
In a disclosure to the Philippine Stock Exchange, Jollibee said the agreement grants JFC, FNF and MI the exclusive rights to sell and market products under the Milksha brand in their stores.
“The current plan is for Milksha products to be sold in Chowking stores, but JFC has the option to expand Milksha’s presence to its other Philippine restaurant brands,” it added.