JOLLIBEE Foods Corp. has teamed up with Yoshinoya International Philippines, Inc. to operate and expand the Japanese restaurant chain in the country.
On Tuesday, Jollibee disclosed to the exchange that the two will establish a 50/50 joint venture, which will be the Philippine franchisee of Yoshinoya.
The partners plan to put up an additional 50 stores of the Japanese beef bowl business in the Philippines, a jump from Yoshinoya’s three operating stores.
The three stores were handled by Yoshinoya, the local subsidiary of Asia Yoshinoya International SDN BHD and Yoshinoya Holdings Co. Ltd., which is the trademark owner of the Yoshinoya System.
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