Jollibee Foods Corp to roll out USD 221.15m expansion in 2016
It’s eyeing 100 new offshore locations.
Philippine fast food giant Jollibee Foods Corp. (JFC) is doling out PHP 10.4b (roughly USD 221.15m) in its mission to grow locally and internationally, and bolster its network support.
According to JFC, the sum will channelled towards capital outlays. Notably, it is more than double JFC spent in 2015.
JFC CEO Ernesto Tanmantiong asserted that the steep spike in capital expenditures in 2016 would prop up the opening of 200 stores in the Philippines. Tanmantiong also stated that JFC is eyeing 80-100 store openings in overseas markets.
On top of this, JFC will roll out three new commissary facilities to support its chain, as well as expand its existing commissary in Canlubang, Laguna. Tanmantiong added that JFC will also be investing in new warehouses and distribution centres.
