It will be operated separately from its local counterpart.
In its disclosure to the Philippine Stock Exchange dated January 5, fastfood giant Jollibee Foods Corporation (JFC) announced its plan separate its international business from its Philippine-based operations.
According to the group, it is in line with the “intention of listing the international business as an independent company on a U.S. securities exchange, while the Philippine business remains listed on the Philippine Stock Exchange.“
“The planned spin-off and listing reflects the continued development of JFC’s portfolio and the company’s objective of establishing two independently listed businesses, each with a distinct strategic focus and investment profile,” it furthered.
Jollibee also shared that the structure has been designed to sharpen strategic focus for each company.
Furthermore, the spin-off will “support each business in pursuing its strategic ambitions, while enhancing the clarity of each equity story and enabling investors to engage with the business profiles most aligned with their investment objectives.”
DISTINCTION OF PH-BASED, INTERNATIONAL COMPANIES
Under the proposal, the Jollibee Foods Corporation (JFC) will include all Philippine operations and businesses and will “represent a focused domestic consumer platform anchored on a resilient, cash-generative Philippine food-service business with leading brands, strong market presence, arid loyal customers.“
This company will offer stable earnings and continued opportunity for domestic expansion, and will remain listed on the Philippine Stock Exchange, which the group said will provide investors “direct exposure to the dynamic Philippine consumer market.”
Meanwhile, the proposed Jollibee Foods Corporation International (JFCI) will include all operations and businesses outside the Philippines and will “represent a global growth company that includes a portfolio of fast-growing international concepts across multiple categories and geographies.“
It will be built on a “capital-light model” with significant room for expansion, as it will ne positioned to operate in “markets that support companies pursuing international scale, innovation, and long-term global growth.”
Upon implementation, the contemplated transaction is expected to result to current JFC shareholders receiving shares in JFCI corresponding to their prevailing interest in JFC, subject to applicable taxes and legal and regulatory requirements.
“Thereafter, shareholders may choose to hoid/sell separately, based on their desired investment profile,” it added.
In line with its plans, Jollibee has engaged international and local advisors to work on defining the structure, process, and timing for the separation and potential U.S. listing, including any necessary internal restructuring and related asset transfers.
The company furthered that the transaction is intended to be executed in late 2027, subject to prevailing market conditions, completion of appropriate diligence, and securing all required regulatory and legal approvals across relevant jurisdictions.
As per its website, the corporation owns multiple brands under its portfolio, including its namesake Filipino fastfood chain Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Coffee Bean and Tea Leaf (CBTL), Highlands Coffee, Smash Burger, and Milksha.
The group also operates the Philippine franchises to popular global brands like Burger King, Panda Express, and 50% of Yoshinoya Philippines.