Tag: Smashburger

Retail Asia19/08/2019
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2min0
Jollibee’s Smashburger and Red Ribbon business units significantly dragged down the restaurant operator’s first-half profits. Jollibee Foods Corporation says the company’s net income attributable to shareholders was P1.1 billion (US$21.1 million) in the second quarter – half that of the preceding three months. First-half profit was down 34 percent on the same period last year. […]

Retail Asia06/03/2019
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1min0
Jollibee has taken full ownership and control of US fast-food chain Smashburger after acquiring an 85 per cent stake in February. The Philippine company said it paid US$10 million to acquire the remaining 15 per cent of the company and that it has made management changes. Tom Ryan, Smashburger founder and CEO, will take on the […]

Retail Asia03/01/2019
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6min0
It’s been called the “McDonald’s of the Philippines,” and the late Anthony Bourdain dubbed it “the wackiest, jolliest place on earth.” Jollibee, a fast food chain based in the Philippines, has become one of the world’s largest restaurant franchises, with more than 4,000 stores in 23 countries, including 37 in the United States. (For comparison, McDonald’s has more […]

Retail Asia24/12/2018
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1min0
Jollibee has taken full ownership and control of US fast-food chain Smashburger after acquiring an 85 per cent stake in February. The Philippine company said it paid US$10 million to acquire the remaining 15 per cent of the company and that it has made management changes. Tom Ryan, Smashburger founder and CEO, will take on the […]

Retail Asia16/11/2018
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1min0
Philippine fast-food franchise Jollibee posted an increase in profit of nearly 20 per cent in its third quarter. Backed by strong sales, the firm has posted a 19.2 per cent rise in net income attributable to shareholders to PHP6.09 billion (US$114.5 million). According to Jollibee’s CFO Ysmael Baysa, the company’s global sales have seen strong […]

Retail Asia18/09/2018
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1min0
Philippine fast-food operator Jollibee has bought a 47 per cent stake in US-based Mexican food chain Tortas Frontera. The US$12.4 million acquisition was announced in a disclosure to the Philippine Stock Exchange. Chairman Tony Tan Caktiong said would help the firm tap the “fast-growing” Mexican food category in the US. Mexican venues occupy about 9 […]

Retail Asia14/03/2018
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3min0
In $100 million deal, Jollibee Foods Corp. will acquire an additional 45 percent of Smashburger, the Denver-based burger franchise that has more than 360 restaurants. The companies announced the deal Tuesday and it’s one that increases Jollibee’s ownership stake in the chain to 85 percent. The Philippines-based restaurant company first bought a 40 percent stake […]

Retail Asia15/02/2018
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1min0
Jollibee Foods Corporation has agreed to acquire an extra 45 per cent of the US Smashburger brand for US$100 million, giving it a controlling stake of 85 per cent. “Jollibee has been an invaluable strategic partner,” says Smashburger co-founder/CEO Tom Ryan. His company last year launched and sold nearly 2 million Triple Double Burgers, setting […]

Retail Asia17/02/2017
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1min0
Philippine-headquartered quick-service restaurant chain Jollibee Foods income jumped 24.6 per cent to 6.14 billion pesos (US$123.26 million) last year, thanks to aggressive store openings. Jollibee says it opened 340 outlets across nine brands – its biggest expansion in a single year – of which 243 stores were in the Philippines. Including JVs, such as Smashburger […]

Retail Asia22/12/2016
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2min0
Filipino restaurant company and global fast-food chain Jollibee Foods Corporation (JFC) has opened its first Canadian outlet, Jollibee Winnipeg. With 35 stores already in North America, it plans to continue its march into Canada with three more outlets next year, at Winnipeg Northgate, Scarborough, and Mississauga, to be followed by Edmonton in 2018. In the […]

Retail Asia23/11/2016
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3min0
Jollibee Foods has reported  13.8 per cent global sales growth in its nine-month net profit as sales soared to P4.39 billion (US$88.2 million). Most of the Jollibee profit growth came from the domestic market where sales rose 16 per cent year-on-year, with the expanding offshore business returning 6.4 per cent growth. During the third quarter, […]

Retail Asia02/11/2016
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2min0
Jollibee Foods (JFC) has opened the 991st branch of its flagship brand Jollibee in the Philippines, in the Ma-a area of Davao. It marks the start of its countdown to its 1000th store, to be unveiled in the first quarter of next year. Its expansion is spread around Cebu, Luzon and Metro Manila “so all […]

Retail Asia23/08/2016
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2min0
Jollibee Hanoi has opened its fifth outlet, taking its Vietnam store count to 81. “The outlet in To Hieu St in Cau Giay district is a key, strategic location for us to serve customers,” Tran Ngoc Hoai Thuong, PR manager at Jollibee Vietnam, said in an interview. Earlier, Jollibee Vietnam announced plans to add 20 […]

Retail Asia04/12/2015
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3min
Philippines-based Jollibee Foods is actively searching for at least two more established fast food or QSR restaurant chains to boost its brand portfolio. Jollibee chairman Tony Tan Caktiong says the company will pay up to $100 million for each investment and it is specifically looking at opportunities in China and the US. The comments follow […]

Retail Asia12/11/2015
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2min
Jollibee, Asia’s largest fast food restaurant operator, is planning to enter seven new markets over the next two years. According to a report in The Standard, Dennis Flores, VP for international operations of Jollibee, has revealed the company plans to take its mainstay Jollibee burger restaurant brand Jollibee into the UK, Italy, Canada, Malaysia and […]

Retail Asia26/10/2015
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3min
Asia’s largest fast food company, Jollibee, has taken a 40 per cent stake in a fast-rising American burger chain, Smashburger for US$335 million. Launched in 2007, Smashburger has over 335 corporate and franchised restaurants operating in 35 states and seven countries. Approximately 60 per cent of Smashburger’s outlets are company owned and operated. The company […]

Retail Asia17/10/2015
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4min
Smashburger, the Denver-based Fast Casual restaurant concept, today announced that it has entered into a definitive agreement to sell 40% of the company to Jollibee Foods Corporation (PSE: JFC), Asia’s largest restaurant company. The purchase price values Smashburger at a $335 million enterprise value. Launched in 2007, Smashburger has over 335 corporate and franchised restaurants […]


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