Jollibee Foods Corp. has partnered with Japanese fastfood chain Yoshinoya to handle its Philippine expansion.
Jollibee said it has signed a 50:50 joint-venture agreement with Yoshinoya International Philippines Inc. (YIPI), the Philippine subsidiary of Asia Yoshinoya International SDN BHD and Yoshinoya Holdings Co. Ltd., the trademark owner of the Yoshinoya System, to operate and expand the Yoshinoya brand in the Philippines.
YIPI currently operates three Yoshinoya stores in the Philippines.
The partnership looks at adding 50 stores in the franchise for the long term.
The joint venture company will be the franchisee for Yoshinoya in the Philippines.
Jollibee said Yoshinoya will be its first Japanese food chain and will be a strong addition to the foreign franchised brands currently being operated by the company in the Philippines — Burger King, PHO 24 and Panda Express.