Business Intelligence on Retailing, Franchising, and Consumerism in China

Philippines' Jollibee To Acquire 55% Stake In Chinese Beef Noodle Chain

Philippines' fast food giant Jollibee Foods Corporation has announced plans to acquire a 55% stake in San Pin Wang, a beef noodle chain in Guangxi Zhuang Autonomous Region, for CNY30 million.

Jollibee said it will acquire San Pin Wang via its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. Jollibee Worldwide will set up a joint venture with Guangxi Zong Kai Food and Beverage Investment Co. Ltd. for the operation of San Pin Wang. Guangxi Zong Kai Food and Beverage Investment will invest CNY20 million for the construction and expansion of the joint venture, which is expected to start operation in January 2011.

According to documents provided by Jollibee and reported by local media, San Pin Wang's annual sales in 2010 is estimated at CNY100 million and the company currently runs 34 chain restaurants in Nanning and Liuzhou, Guangxi.

Be the first to comment on "Philippines' Jollibee To Acquire 55% Stake In Chinese Beef Noodle Chain"

Leave a comment

Your email address will not be published.


  Other China News

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco