Jollibee to open first store in Italy
Jollibee Foods Corp (JFC) signed a deal with Singaporean food and beverage company BlackBird to own and operate the first Jollibee store in Italy, which would be its first in Europe.
According to a report by ABS-CBN News, the Jollibee group will own 75% of the joint venture, while BlackBird will own the remaining 25%. Both have committed to invest up to 1-million euros for the joint venture.
“Golden Gate shall have full management control of the JV and the operations of the first store. Jollibee’s strategy is still to tap a territorial franchisee for Italy with the capability to develop and expand the brand in the market,” Jollibee said in its statement.
JFC operates the largest food service network in the Philippines with a total of 3,290 stores worldwide as of February 2017. Under this food service network are well-known fast-food chains such as Jollibee, Chowking , Greenwhich, Red Ribbon, Mang Inasal, and Burger King.
Source: news.abs-cbn, dealstreetasia
