Jollibee has been among the many fast-food restaurants found in the Philippines that also became one of the biggest fast-food restaurant around the world. From the US and across South East Asian countries, Jollibee has become a mobile restaurant that serves not only the Filipinos expariates but also the foriegn communities that would enjoy a taste native to the Filipinos.
The Jollibee Food Corporation has really become one of the biggest corporation in the Philippines that boasts Filipino ingeniulity across the globe. But what made Jollibee so successful isn’t only because of the brand itself, but because of its expansions and acquisition of other rising fast-food restaurants in the Philippines. These restaurants are Greenwich Pizza (now Greenwich Pizza Corp.), Chowking (now Chowking Food Corp.), Red Ribbon Bakeshop, Dlifrance, and a more recent acquisition Manong Pepe’s.
The company acquired 80% of Greenwich Pizza Corp. in 1994, enabling it to penetrate the pizza-pasta market. From being a 50-branch operation, Greenwich has established a strong presence in the food service industry. In early 2006, Jollibee Foods Corporation bought out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for P384 million in cash.
Jollibee acquired Chowking and Red Ribbon Bakery in 2000 and 2005 respectively. By aqcuiring Chowking and Red Ribbon Bakeshop, Jollibee has been allowed to be part of the Oriental quick service restaurant segment and in the cake and pastry industry.
In 2006, Jollibee Food Corporation acquired the franchise of Dlifrance. This further expanded its penetration in the food service industry, particularly in the French cafe-bakery, a growing segment of the Philippine food market. In September of 2006, the company acquired the remaining 50% stake of Delifrance Asia Ltd. in Baker Fresh Foods Phils., Inc. (BFFPI). This means BFFPI is now a wholly owned subsidiary of Jollibee and that the listed food giant has the exclusive rights to operate Delifrance outlets in the country.
The corporate actions in buying out the minority shareholders in Greenwich Pizza (20%) and Delifrance (50%) were the prelude to a plan to integrate the Greenwich Pizza, Chowking, and Delifrance brands under one corporate entity. Under this plan, merging of the subsidiaries would be implemented by having Greenwich Pizza Corp. and BFFPI folded into Chowking Food Corp.