Henry Sy

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This is a Chinese name; the family name is Sy (Shi).

Henry Tan Chi Sieng Sy Sr. (Chinese: 施至成; pinyin: Shī Zhìchéng; Peeh-ōe-jī: Si Chì-sêng[4]; October 15,
1924 – January 19, 2019) was a Chinese Filipino business magnate and philanthropist known for his
involvement in the Philippines' retail industry.

Henry Sy

21st Presentation of SM Scholar -Graduates Batch 2017 Henry Sy tribute (cropped).jpg

Sy in 2017

Native name

施至成

Born

Shi Zhicheng (Sy Chi Sieng)

October 15, 1924

Amoy, Fukien, Republic of China

Died

January 19, 2019 (aged 94)

Makati, Philippines

Resting place

The Heritage Park, Taguig, Philippines

Education

Far Eastern University

Chiang Kai Shek College

Occupation

Business magnateinvestorphilanthropist

Known for

Founder of SM Investments[1]

Net worth

US$19 billion (January 2019)[2]

Spouse(s)

Felicidad Tan-Sy

Children

6 (inc. Teresita)[3]

Born in Fujian, China, he moved with his family to the Philippines at age 12. While his family returned to
China, he stayed behind and founded ShoeMart, a small Manilla shoe store, in 1958. Over the decades
he developed ShoeMart into SM Investments, one of the largest conglomerates in the Philippines,
including 77 SM malls in the Philippines and China, 62 department stores, 56 supermarkets and over 200
grocery stores. SM also owns Banco de Oro, the second-largest bank in the Philippines, and real estate
holdings/[5]

For eleven straight years until his death, Sy was named by Forbes as the richest person in the Philippines.
[6] Upon his death on January 19, 2019, his estimated net worth amounted to US$19 billion, making him
the 53rd-richest person in the world.[5]

Early life and education Edit

Henry Sy (also known as Shi Zhicheng[4]) was born in Amoy in Fukien Province in the Republic of China
(now Xiamen, Fujian Province, China), on October 15, 1924. At age 12, he and his family moved to the
Philippines, where his father set up a shop that sold various household items. At his father's store, Sy
helped his father sell rice, sardines and other merchandise. Following World War II, the store got
obliterated along with the rest of Manila.[6] His family decided to return to China,[6] but Sy stayed in the
Philippines where he completed his secondary education at an institution now known as the Chiang Kai
Shek College[7] and earned his Associate of Arts degree in commercial studies at Far Eastern University
in 1950.[8] While studying in school, he also learned how to speak in English and Filipino.[9]

Career Edit

In his twenties, Henry Sy became a store manager working for an American business involved in the local
shoe industry in the Philippines; he opened his first sole-proprietorship store in Quiapo, Manila in 1948.
[4] He opened at least three shoe stores in the Carriedo area which was then known for its heavy
pedestrian traffic. His decision to sell shoes was due to the losses his family experienced in World War II
thinking that everyone would need shoes following the aftermath of the war.[7]

He sold surplus G.I. boots and saved finances before he established ShoeMart[9] in 1958, his own small
shoe store in Quiapo, that marked the beginning of SM Prime.[10] He later encountered difficulties in
sourcing shoes locally and decided to import shoes from outside the country.[9]

Sy became involved in the banking industry when he acquired Acme Savings Bank (later renamed Banco
de Oro or BDO) in 1967.[9]

In November 1972, he opened SM Quiapo, SM's first stand alone department store, and entrusted his
22-year-old daughter Teresita to run the store.[5] On November 8, 1985, he established his first SM
Supermall, SM City North EDSA.[11] In the early 1990s, SM started opening more shopping malls with
the setting up of two malls in Metro Manila and a solitary mall in Cebu City. SM Prime Holdings was
incorporated in 1994 and went public.[9]

Sy was named "Richest Man of the Year" by the Makati Business Club in 1999 and was conferred an
Honorary Doctorate in Business Management by De La Salle University in January of that year. He and his
wife established the SM Foundation Inc., which helps underprivileged youths, the disabled and the
elderly.[12] He established business presence in Mainland China when the SM Group opened its first
shopping mall in his native Xiamen. Other malls were later set up in other parts of Southern China.[4]

In August 2005, Sy's stake in the San Miguel Corporation, Southeast Asia's largest food and beverage
conglomerate, reached 11%.[13] He sold that stake in October 2007 for $680 million.[14]
Sy's holding company, SM Investments (also known as SM Group), has been frequently named as one of
the best managed companies in the Philippines.[12] SM Investments is the operator of Banco de Oro
(BDO) and owner of Chinabank. In 2006, Sy bought the remaining 66% of Equitable PCI Bank, the
Philippines' third largest lender, and merged it into BDO the following year. The transaction turned BDO
into the second largest financial company in the country.[12]

He was the Philippines' richest man, gaining $5 billion in 2010, amid the global financial crisis. The huge
gain was due to his holding company, SM Investments, which has interests in BDO, inter alia.[12] For 11
straight years until his death in 2019, Forbes ranked him as the richest person in the Philippines, with an
estimated net worth of US$ 19 billion in 2019.[6][5]

In 2017, Sy stepped down as chairman of SM Investments Corporation and was given the honorary title
of Chairman Emeritus as recognition for being the founder of the SM Group. Jose Sio succeeded Sy as
chairman.[15]

Personal life Edit

Sy was married to Felicidad Tan, who was a shoelace vendor.[9] The couple had six children: Teresita,
Elizabeth, Henry Jr., Hans, Herbert, and Harley.[6][16] Teresita and Henry Jr. are vice chairpersons of SM
Investments, serving under chairman Jose Sio, a longtime lieutenant of Henry Sr. Harley serves as
executive director of SM.[6]

Death Edit

President Rodrigo Duterte pays his last respects to Henry Sy, January 20, 2019

Sy died in his sleep at age 94.[17] His body was discovered on the morning of January 19, 2019 in his
home in Forbes Park, Makati.[18] The interment took place at the Heritage Memorial Park in Taguig, on
January 24, 2019.[19]

References Edit
^ "Board of Directors". SM Investments Corporation webpage. Retrieved June 15, 2018.

^ "Henry Sy & family". Forbes online. Retrieved August 4, 2017.

^ 王艳芳. "Top 10 richest Chinese in the world - China.org.cn". www.china.org.cn. Retrieved September
7, 2018.

^ a b c d Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders. Edward Elgar
Publishing. 2009. pp. 160–161. ISBN 1848449518. Retrieved January 25, 2019.

^ a b c d Olsen, Robert (January 19, 2019). "Philippines' Richest Man, Henry Sy, Dies At 94". Forbes.
Retrieved January 21, 2019.

^ a b c d e f Gutierrez, Jason (January 20, 2019). "Henry Sy, 94, Dies; Philippines' Richest Man and a
Shopping Mall Tycoon". New York Times. Associated Press. Retrieved January 25, 2019.

^ a b de la Cruz, Mio (January 11, 2009). "Stepping Up to the Big Time". Philippine Daily Inquirer.
Archived from the original on March 30, 2013. Retrieved January 11, 2012.

^ Bignotia, Carmela (March 10, 2007). "Henry Sy Sr.: The Man Truly Has It All". Retrieved October 16,
2007.

^ a b c d e f Chua, Paolo (June 2, 2018). "How SM's Henry Sy Started with Ten Centavos and Became
Southeast Asia's Richest Man". Town & Country. Retrieved January 25, 2019.

^ Philippines mall mogul rakes it in as crisis hits rich: Forbes Archived May 20, 2011, at the Wayback
Machine. AFP October 15, 2008.

^ The mall that started it all: Celebrating 25 years of SM City North EDSA by Wilson Lee Flores – The
Philippine Star » Lifestyle Features » Sunday Life[dead link]. Philstar.com. August 15, 2010. Retrieved on
January 11, 2012.

^ a b c d "Henry Sy stays in Forbes' top 100". The Manila Times. March 4, 2014. Retrieved January 21,
2019.

^ "SM's Henry Sy hikes stake in SMC to 11%". Philstar Global. August 13, 2005.

^ "(UPDATE 2) Henry Sy son in P45-B Meralco stake bid". ABS CBN News. October 30, 2009.

^ Austria, Jennifer (April 26, 2018). "Henry Sy steps down as chairman of SMIC". Manila Standard.
Retrieved September 7, 2018.

^ Gavilan, Jodesz (January 19, 2019). "FAST FACTS: Remembering Henry Sy Sr". Rappler. Retrieved
January 20, 2019.

^ "Philippines' richest man Sy dies at 94". Yahoo! Philippines. Retrieved January 19, 2019.

^ Lopez, Tony (January 23, 2019). "The dream maker". Manila Standard. Retrieved January 25, 2019.
^ Adel, Rosette (January 24, 2019). "Henry Sy Sr. laid to rest in Taguig City". The Philippine Star. Retrieved
January 24, 2019.

Lucio tan

Lucio Tan

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This biography of a living person needs additional citations for verification.

This is a Chinese name; the family name is Tan.

Lucio C. Tan, Sr. (simplified Chinese: 陈永栽; traditional Chinese: 陳永栽; pinyin: Chén Yǒngzāi; Peeh-ōe-jī:
Tân Éng-chai; born July 17, 1934) is a Chinese Filipino billionaire businessman and educator with
interests in banking, airline, liquor, tobacco, real estate industries, and education. In 2013, Forbes
magazine listed him as the second richest billionaire from the Philippines with a net worth of $7.5 billion.
[5]

Lucio C. Tan, Sr.

陳永栽

Lucio Tan (cropped).jpg

Born

July 17, 1934 (age 85)

Fujian, Republic of China[1]

Residence

Manila, Philippines

Nationality

Filipino

Alma mater

Chiang Kai Shek College

Far Eastern University

Occupation

Businessman

Known for

Chairman and CEO of Philippine Airlines[2]

Chairman of The Board (LT Group, Inc.)[3]

Net worth

$3.8 billion (May 2019)[4]

Children

Early life Edit

Tan was born in Amoy (now Xiamen), Fujian, China. His parents moved to the Philippines when he was a
child.[citation needed] He earned a bachelor's degree in Chemical Engineering from the Far Eastern
University in Manila.[6] Forbes states that while in college, Tan "worked as a janitor at a tobacco
factory"[7] where he "mopped floors to pay for school."[8]

Business interests Edit

Learn more

This biographical section is written like a résumé.

LT Group, Inc. (PSE: LTG)

Asia Brewery, Inc.

Tanduay Distillers, Inc.

Absolut Distillers, Inc.

Asian Alcohol Corporation

Fortune Tobacco Corporation

PMFTC, Inc. – 50% ownership by FTC

Eton Properties Philippines, Inc.

Philippine National Bank (PSE: PNB) - (merger of Philippine National Bank and Allied Banking
Corporation)

Victorias Milling Company, Inc. (PSE: VMC) – minority interest and management control[9]

Philippine Airlines (PSE: PAL)

PAL Express

MacroAsia Corporation (PSE: MAC)

Lufthansa Technik Philippines - 51% ownership by Lufthansa Technik AG, 49% ownership by MacroAsia,

MacroAsia Airport Services Corporation

MacroAsia Catering Services - 67% ownership by MacroAsia, 33% ownership by SATS Ltd
MacroAsia Properties Development Corporation

MacroAsia Air Taxi Services

MacroAsia Mining Corporation

Cebu Pacific Catering Services Inc.

Others:

Alliedbankers Insurance Corporation

Himmel Industries, Inc.

Century Park Hotel

Grandspan Development Corporation

Lucky Travel Corporation

Foremost Farms, Inc.

Pan Asia Securities (stock brokerage firm)

The Charter House (hotel)

University of the East

Tan Yan Kee Foundation

Controversies Edit

In 1997, Forbes, in an article entitled "A report card on Asia", complained about the "considerable
corruption still prevalent" in the Philippines, bolstering that claim by citing how Tan "single-handedly
held up a tax reform intended to remove special privileges for local tobacco and beer producers."[10]

In 1998, Forbes reported that Tan was spending his free time "[j]ousting with the government over
charges of tax evasion" and with Philippine Airlines "shareholders who tried to block his bid for the
airline."[11]
According to the January–March 1999 edition of the Philippine Center for Investigative Journalism, Solita
Monsod, an economics professor at the University of the Philippines and former Economic Planning
Secretary, was quoted as saying that "Lucio Tan is a role model for the worst kind of conduct as far as our
national objectives are concerned. He signals that you can evade taxes and get away with it, pay the
courts and get the judges to decide in your favour, get good lawyers and delay your cases. The messages
that are given by the kind of treatment that he gets from the Government are the antithesis of what we
need for sustainable development: an even playing field and Government intervention of the right kind."
[3][citation needed]

The Presidential Commission on Good Government ("PCGG") originally filed a case against Tan in July
1987, and has since amended it twice, the last time being on 5 September 1991. According to the PCGG,
the state is entitled to PHP 50 billion in damages and PHP 1 billion in legal expenses.[4][citation needed]
In addition, the state was seeking to recover 60% of Tan's holdings in companies that Tan held in trust for
the former president Marcos – such as Fortune Tobacco, Asia Brewery, Allied Banking Corp., Foremost
Farms, Himmel Industries, Grandspan Development Corp., Silangan Holdings, Dominium Realty and
Construction Corp., and Shareholdings Inc. – as the PCGG alleges that they were illegally acquired by
Marcos using government funds.[12]

After filing the case in July 1987, the PCGG seized control of Tan’s companies, continuing to do so until
2006 when the anti-graft court Sandiganbayan nullified the writs of sequestration on Allied Banking
Corp., Fortune Tobacco, Foremost Farms and Shareholdings Inc. The court ruled the writs had no basis as
there was no prima facie proof that any of Tan’s assets were obtained illegally.

The PCGG soon afterwards filed a petition to the Supreme Court. On December 7, 2007, the Supreme
Court affirmed the decision of the anti-graft court. The Supreme Court found no proof that Tan, his
family, or his various businesses took undue advantage of their relationship with former President
Marcos. Finding no factual basis for the sequestration of the stocks, the Supreme Court denied the
PCGG’s petition, according to a court statement.[13]

In an April 29, 2009 letter filed at the anti-graft court, the PCGG announced that it is "resting its case"
and terminating its presentation of evidence in the PHP 51 billion lawsuit. This, the report said, came as
a surprise as government lawyers had earlier insisted in court that they still have several key witnesses,
including former First Lady Imelda Marcos.[14]
Jolibeeeeeee

Tony Tan Caktiong

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This is a Chinese name; the family name is Tan.

Tony Tan Caktiong, CM (simplified Chinese: 陈觉中; traditional Chinese: 陳覺中; pinyin: Chén Juézhōng;
Peeh-ōe-jī: Tân Kak-tiong; born January 5, 1953) is a Filipino billionaire businessman. He is the founder
and chairman of Jollibee Foods Corporation, and the co-chairman of DoubleDragon Properties.

Tony Tan Caktiong

陳覺中

CM

Tony Tan Cokationg & Aquino 2016 (cropped).jpg

Caktiong in January 2016

Native name

陳覺中

Born

Tony Tan Caktiong

January 5, 1953 (age 66)

Davao del Sur, Philippines

Residence

Manila, Philippines

Nationality

Filipino

Education

Chiang Kai Shek College

Alma mater

University of Santo Tomas

Occupation

Businessman

Known for

Founder, and Chairman of Jollibee Foods Corporation [1]

Co-Chairman, and Director of Double Dragon Properties, Corp.[2]

Net worth

US$3.5 billion (May 2019)[3]

Spouse(s)

Grace A. Tan Caktiong

Children

Early career and education Edit

Tan was born to Chinese immigrant parents from Fujian. He attended high school at Chiang Kai Shek
College and graduated from the University of Santo Tomas with a degree in chemical engineering. Tan
had initially planned an ice cream parlor when he founded Jollibee, then added dishes such as
hamburgers, french fries, and fried chicken.
Career Edit

Jollibee Foods Corporation Edit

Tan founded the fast food chain Jollibee in 1978, after having started it as an ice cream parlor in 1975.[4]
Through expansion and acquisitions of Greenwich Pizza Corp.[4] which enabled it to enter the pizza-
pasta segment. In early 2006, Jollibee Foods Corporation bought out the remaining shares of its partners
in Greenwich Pizza Corporation, equivalent to a 20% stake, for P384 million in cash.[5][6][7][8] As of
August 2008, Tan's Jollibee has a total of 1,480 stores worldwide including Jollibee, Red Ribbon,
Chowking, Greenwich, Manong Pepe's and Mang Inasal.[9]

As of November 2015, Forbes estimated his net worth at US$4.1 billion.[3]

DoubleDragon Properties Edit

In 2012, Tan, through his holding company, Honeystar Holdings Corporation, invested in Injap Land
Corporation, a property company founded by Edgar Sia II. With Tan's entry, the company was renamed
DoubleDragon Properties Corporation.[10]

Awards Edit

Entrepreneur Of The Year Philippines, 2004[11]

Ernst and Young Entrepreneur of the Year World, 2004

Gawad Mabini with the rank of Commander (Dakilang Kasugo), 2016

References

https://en.m.wikipedia.org/wiki/Tony_Tan_Caktiong

Jobi
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Jollibee Foods Corporation

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This article is about the company. For the fast food chain owned by the company, see Jollibee.

Jollibee Foods Corporation (abbreviated as JFC; also known as Jollibee after its primary fast food brand)
is a Filipino multinational company based in Pasig, Philippines. JFC is the owner of the fast food brand
Jollibee.

Jollibee Foods Corporation

Jollibee Foods Corporation logo.png

Jollibee Plaza Bldg., Ortigas Center - panoramio.jpg

Jollibee Plaza (leftmost building), the firm's headquarters.

Type

Public

Traded as

PSE: JFC

Industry

Restaurants

Founded

Quezon City, Philippines (January 1978; 41 years ago)[note 1]

Founder

Tony Tan Caktiong

Headquarters

Jollibee Plaza, Ortigas Center, Pasig, Philippines

Area served

East Asia, Southeast Asia, Middle East, North America, Western Europe

Key people

Tony Tan Caktiong

(Chairman)

Ernesto Tanmantiong

(President and CEO)

Products

hamburgerschickenfriescoffeedessertsbreakfastdumplingspizzascakespastries

Revenue

Increase₱113.91 billion (FY 2016)[3]

Operating income

Increase₱3.90 billion (FY 2011)[3]

Net income

Increase₱3.25 billion (FY 2011)[3]

Total assets

Increase₱38.90 billion (FY 2011)[3]

Total equity

Increase₱3.25 billion (FY 2011)[3]

Number of employees

13,133 (2012[4])
Subsidiaries

Fresh N' Famous Foods[5]

(Chowking, Greenwich)

Red Ribbon Bakeshop, Inc.

Mang Inasal Philippines

Perf Restaurants Inc.

Smashburger IP Holder

Superfoods Group

The Coffee Bean & Tea Leaf

JBPX Foods, Inc. (Panda Express Philippines)[6]

Website

jollibee.com.ph

With the success of its flagship brand, JFC acquired some of its competitors in the fast food business in
the Philippines and abroad such as Chowking, Greenwich Pizza, Red Ribbon, and Mang Inasal.[7] As of
January 2016, JFC had a total of more than 3,000 stores worldwide,[8] with system-wide retail sales
totaling 82.1 billion pesos for the 2011 fiscal year.[9]

Background

Acquisition history Edit

Philippine brands Edit

Chowking, one of the company's fast food chain brands.

The company acquired 80% of Greenwich Pizza in 1994. From a 50-branch operation, Greenwich
gradually established a strong presence in the food service industry. In early 2006, Jollibee Foods Corp.
bought out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for
P384 million in cash.[23] In 2000, the company acquired Chowking, a Chinese fast food restaurant, thus
making Jollibee a part of the Asian quick service restaurant segment. In 2005, Jollibee acquired Red
Ribbon, a bakeshop business in the Philippines.[24][25]

On October 19, 2010, Jollibee acquired 70% share of Mang Inasal, a Filipino food chain specializing in
barbecued chicken, for P3 billion ($68.8 million).[26][27][28]

JFC subsidiary Fresh N' Famous Foods, Inc. manages the Greenwhich and Chowking brands. The Red
Ribbon brand is under Red Ribbon Bakeshop Inc. which in turn is managed by a holding company of the
JFC, RRB Holdings, Inc. The firm has also stakes on Burger King's outlets in the Philippines through Perf
Restaurants, Inc. which is 54 percent owned by JFC as of 2012.[1]

Foreign brands Edit

Smash Burger, a food outlet chain owned by JFC based in the United States.

Jollibee Foods Corporation has stakes in restaurant chains based or originating outside the Philippines
such as in Mainland China, Taiwan, and United States as well as the holder of the master franchise of
Burger King in the Philippines.

In Greater China Edit

In 2004, Jollibee acquired Chinese fast food chain Yonghe Dawang for $22.5 million. Jollibee entered into
a joint-venture contract with US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar
Bistro in New Mexico, in which Jollibee acquired a 12% stake for $950,000.[29][30][31] In 2006, Jollibee
purchased 70% of Taipei restaurant Lao Dong in June and Chun Shui Tang tea house. In 2007, Jollibee
acquired the Chinese fast-food chain Hongzhuangyuan for $50.5 million (roughly P2 billion)[32] but
divested its shares from Lao Dong and Chun Shui Tang, only a year after it purchase stakes in the two
food chains.[33]

On August 26, 2008, Jollibee formally signed a P2.5 billion ($55.5 million) deal with Beijing-based Hong
Zhuang Yuan through its wholly owned subsidiary Jollibee Worldwide Pte. Ltd. The sale is subject to the
approval of China's Ministry of Commerce. On October 2010, Jollibee signed a deal to acquire 55 percent
of China's Guangxi San Ping Wang Food and Beverage Management Co. Ltd., operators of the San Pin
Wang beef noodle business for 30 million RMB.[34]
Its restaurants in mainland China are responsible for about 12% of the company's total sales, mostly
through chains it acquired.[8]

In January 2016, the company announced it was participating in a joint venture to bring 1,400 Dunkin'
Donuts stores to China over the next 20 years [8]

The Yonghe King, Hongzhuangyuan, San Pin Wang chain are under JFC's SuperFoods Group.[1] In May
2018, Jollibee Food Corporation announced that it has acquired the master franchise of Tim Ho Wan, a
Michelin-star dim sum restaurant chain in Asia Pacific,for SG$45 million (₱1.74 billion) from its private
equity fund investment Titan Dining Partners Limited. Tim Ho Wan Private holds the exclusive long-term
master franchise to run Tim Ho Wan within the Asia Pacific region, excluding ones in Hong Kong. Dim
Sum Private, on the other hand, owns and operates Tim Ho Wan chains in Singapore.[35]

In the United States Edit

In October 2015, Jollibee announced that it has acquired a 40-percent stake in Smashburger in a deal
that values the American fast-casual burger chain at $335 million.[36] In December 2018 Jollibee
acquired 100 percent of the shares in Smashburger, gaining a full control of the American hamburger
chain.[37]

In September 7, 2018, Jollibee Foods Corporation announced its acquisition of 47% stake in US-based
Mexican food restaurant, Tortas Frontera of Rick Bayless for $12.4 million.[38]

On July 24, 2019, Jollibee Foods Corporation purchased The Coffee Bean & Tea Leaf for $350 million.[39]

Foreign brands in the Philippines Edit

A Burger King outlet in Quezon City.

On October 2011, Jollibee acquired a 54% stake in BK Titans, Inc., the sole franchisee of Burger King in
the Philippines.[40]
In September 27, 2018, JFC announced its 50-50 joint venture with Chinese-American restaurant chain,
Panda Express to bring its stores to the Philippines.[41] In July 8, 2019, both JFC and Panda Express'
parent company, Panda Restaurant Group formed their joint venture company, JBPX Foods, Inc. after its
incorporation by Securities and Exchange Commission.[6]

Planned Edit

In September 2017, it was reported that JFC is considering to bid for the acquisition of British sandwich
multinational chain Pret a Manger for at least $1 billion.[42]

Brands Edit

Jollibee - Filipino-style fast food restaurant with American-influenced dishes specializing in burgers,
spaghetti, chicken and some local Filipino dishes.

Greenwich - The fast food restaurant features a variety of Italian main and side dishes specializing in
pizzas and pastas.

Red Ribbon - The bakeshop offers a wide array of baked goods specializing in cakes.

Chowking - The fast food serve Chinese food menu predominantly selling noodle soups, dim sum and
rice bowls with toppings.

Mang Inasal - Barbecue fast food restaurant chain.

Burger King Philippines - JFC is managing the operations of the American hamburger fast food chain in
the Philippines.

Smashburger - American fast-casual hamburger restaurant chain.

Yonghe King - Chinese fast-food restaurant that specializes in noodles.

Hongzhuangyuan - Chinese fast food chain.

Tortas Frontera - US-based Mexican food restaurant by chef Rick Bayless, owns 47% stake.[38]

Panda Express Philippines - Joint venture with a Chinese-American fast food restaurant's parent
company, Panda Restaurant Group through JBPX Foods, Inc.[6] and operates its Philippine chain, owns
50% stake.[41]
The Coffee Bean & Tea Leaf - American coffee chain founded in 1963, purchased by JFC in 2019.

Former brands Edit

Jollibee Foods Corporation jointly opened a branch of Délifrance with master franchisee Delifrance Asia
Ltd. The JFC became the sole franchise of the bakery chain in the Philippines in 2006 through its
subsidiary Fresh N' Famous Foods. The franchise agreement between JFC and Delifrance Asia ended on
December 31, 2011 and assets of Délifrance in the Philippines was sold to CafeFrance Corp.[43]
CafeFrance Corp. intended to use all of the bought assets as its initial capital for a cafe chain under the a
new brand name.[44]

The company also managed Manong Pepe, a food chain patterned after the carinderia until 2011.
Initially named Tio Pepe's Karinderia, the now defunct chain was meant to cater to people from the
lower classes, particularly those from the socioeconomic class D demographic.[45] JFC discontinued the
Manong Pepe business on April 9, 2011.[46]

In Greater China, Jollibee formerly owned stakes of two food chains; Taiwan-based Lao Dong, and
Shanghai-based Chun Shui Tang until 2007.[33]

Joint ventures Edit

Jollibee Foods Corporation and the Viet Thai International Joint Stock Company formed a joint venture
named Superfoods Group, which owns and managed the Vietnamese coffee chain brand, Highlands
Coffee. On November 2016, the two companies agreed to list Superfoods as a public company in a stock
exchange by July 2019.[47]

In October 2016, Jollibee and Cargill formed a joint venture, C-Joy Poultry Meats Production, and broke
ground on a new poultry processing facility at Santo Tomas, Batangas in the Philippines. The facility will
be expected to process 45 million chickens per year.[48]

Labor policy Edit

According to the Department of Labor and Employment (DOLE) in May 2018, the Jollibee Foods
Corporation has the most number of workers who are employed under a labor-only contracting (LOC)
program.[49]

Notes Edit

^ a b The JFC states that its date of incorporation was on January 28, 1978[1] while the Philippine Stock
Exchange list the date of incorporation as January 11, 1978.[2]

References Edit

^ a b c "2012 Annual Report" (PDF). Jollibee Foods Corporation: 3. Retrieved 2 November 2017.

^ "Company Information - Jollibee Foods Corporation". Philippine Stock Exchange. Philippine Stock
Exchange, Inc. Retrieved 1 November 2017.

^ a b c d e "Jollibee Foods Corporation 2015 annual report ( FORM 17-A)" (Press release). December 31,
2011.

^ "2012 Annual Report" (PDF). Jollibee Foods Corporation: 6. Retrieved 2 November 2017.

^ "Fresh N' Famous Foods Inc Company Profile". EMIS. Retrieved 1 November 2017. Fresh N' Famous
Foods Inc, a subsidiary of Jollibee Foods Corporation (JFC) operates and franchises quick-service
restaurants under the trade names "Chowking" and "Greenwich"; Red Ribbon Bakeshop, Inc.

^ a b c "Jollibee, US-based Panda Group create joint venture firm covering PHL market". GMA News. 8
July 2019. Retrieved 24 July 2019.

^ "Jollibee's 2008 profits dip despite sales jump". Retrieved August 6, 2012.

^ a b c d "Acquired tastes". The Economist. Retrieved 12 January 2016.

^ "Jollibee Foods Corporation 2011 financial statements" (PDF) (Press release). March 2012. Retrieved
August 6, 2012.

^ a b Go, Josiah (2001). Fundamentals of Marketing: In The Philippine Setting. Quezon road, Philippines:
Design Plus. pp. 1–2. ISBN 971-91860-5-4.

^ Jollibee – About Us – Milestones-History

^ "From Ice Cream Parlor to Fast Food Empire: Tony Tan Caktiong's Story". WIPO. World Intellectual
Property Organization. Retrieved 2 November 2017.
^ "Milestones & History". Jollibee Foods Corporation. Archived from the original on March 19, 2014.
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