In 1994, Jollibee Foods Corporation acquired 80% of Greenwich shares. Then, in 2006, Jollibee bought out the remaining shares of its partners in Greenwich for PHP384 million - giving rise to a new company known as the Greenwich Pizza Corporation. The franchise experienced rapid expansion from the original 50 stores in 1994. By 2005, Greenwich had over 240 stores with an annual revenue of over PHP4 billion. Expanding further into 2011, the corporation has opened over 330 stores.