Jollibee Acquires South Korean Hot Pot Chain

Jollibee Group (JFC), through its subsidiary Jollibee Foods Corporation===Jolli-K Co. Ltd., has agreed to acquire All Day Fresh Co. Ltd., the operator of the South Korean hot pot chain Shabu All Day, for $87 million (KRW127 billion). This acquisition is set to immediately consolidate Shabu All Day's 169 stores into JFC's financial statements upon completion, subject to closing and financing conditions. The deal is projected to increase JFC's revenues by 2%, raise the international business's contribution to 46% of global revenues, and drive an 8% growth in global earnings before income tax this year. Elevation Equity Partners Korea Limited, a private equity firm, will retain a 30% effective shareholding in Jollibee Foods Corporation===Jolli-K Co. Ltd. This move follows JFC's previous acquisition of Compose Coffee and aligns with its strategy to expand its international portfolio, particularly in Asia's fast-growing dining categories. JFC also plans to list its standalone international business, Jollibee Group International (JFCI), on a US securities exchange by 2027.