Jollibee

Jollibee Foods Corporation

Jollibee logo and mascot
Company type	Public (PSE: JFC)
Industry	Restaurants
Founded	1975 in Quezon City, Philippines
Headquarters	Emerald Ave. Ortigas Center, Pasig City, Metro Manila, Philippines
Key people	Tony Tan Caktiong, Founder, President & CEO
Products	Fast food
Revenue	PhP 15 billion (2005)
Net income	PhP 1.43 billion (2005)
Website	www.jollibee.com.ph

A Jollibee restaurant in Dumaguete City.

Jollibee (PSE: JFC) is a fast-food restaurant chain based in the Philippines. There are locations in 6 countries around the world: Philippines, United States, Hong Kong, Vietnam, Indonesia, Dubai and Brunei. Jollibee is also the name of Jollibee's mascot, a big bee in a blazer, shirt and chef's hat. It is an American style fast-food restaurant that caters to the Filipino taste. It specializes in chicken, burgers, and spaghetti.

As of March 2006, it has 1287 stores in the Philippines and 161 in other countries.

Jollibee History

Mr. Tony Tan Caktiong and his family opened a Magnolia Ice Cream parlor at Cubao in 1975; this was later to become the first Jollibee outlet. In 1978 Jollibee Foods Corporation was born and was incorporated as a 100% Filipino Company. They later expanded to serving sandwiches and spaghetti, and before long the hot meals were outselling the ice cream. The ice cream parlors were converted into dine-in, fast-food, and drive-fast restaurants named "Jollibee".

Jollibee's dominance in the Philippine fast-food market is undeniable. As of 2001, Jollibee generated P15 billion in annual revenues, which is almost double that of its foreign rival McDonald's (P8 billion).

In line with the long-term goal to be the dominant food service leader in the Philippines, the company acquired Greenwich Pizza in 1994 enabling it to penetrate the pizza-pasta segment. From a 50-branch operation, Greenwich has established a strong presence in the food service industry.

A year later the company acquired the franchise of Délifrance, an international food company. 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 2000, the company acquired Chowking. It solidified the company's position as the dominant leader and allowed it to have leadership in a major fast food market - the Oriental quick service restaurant segment.

In 2005, Jollibee acquired Red Ribbon Bakeshop, another popular fast-food in the Philippines.

Along with its Philippine brands, the company also runs a Chinese fast food chain (Yonghe King) in mainland China and a popular teahouse chain from Taiwan called Chun Shui Tang (Spring Water Hall). The teahouse opened June 30, 2006 on Shanghai's Huai Hai Road.

As of October 2006, Jollibee Foods Corp. revealed that it has bought out its partner in the Delifrance brand. In a statement to the Philippine Stock Exchange, Jollibee said it bought the 50-percent stake of Baker Fresh Foods Philippines Inc. in Delifrance, making Jollibee the sole owner of the casual dining restaurant and bakeshop. "The acquisition involved a restructuring of all advances by [Jollibee] and Delifrance Asia amounting to P130 million into equity," the statement said. Jollibee added that the strong sales posted by Delifrance encouraged it to buy out its partner.

The corporate actions in buying out the minority shareholders in Greenwich Pizza (20%) and Delifrance (50%) were the prelude to the integration of the Greenwich Pizza, Chowking and Delifrance into one corporate entity. Under the structure, the corporate entities of Greenwich Pizza and Delifrance will be folded into Chowking Foods Corp (to be renamed Fresh 'N Famous Inc). No new shares will be issued as the assets of Greenwich Pizza Corp and Baker Fresh Foods Phils Inc will be injected into Fresh 'N Famous as additional paid-in capital. Except for some initial one-time costs, Jollibee management expects the integration to result in lower administrative expenses and a lower effective tax rate going forward.

Endorsers

• Aga Muhlach
• Sarah Geronimo
• Sam Milby
• Kim Chiu
• Gerald Anderson
• Mark Bautista
• Carmina Villaorel
• Maricel Soriano
• Cesar Montano
• Eric Aromin
• Luther Casiano
• Goin' Bululit Kids
• Charmz Chui
• Gelo Uy
• Dominic Tan

External links

• Jollibee Foods Corporation
• Yonghe King
• Chun Shui Tang

Editors

• Ravi A. Uttamchandani - Brent International School, Manila (2006)