Jollibee Foods takes full control of Chinese JV Happy Bee

Jollibee Foods Corp., the Philippines-based foodservice operator, has taken full control of its Chinese manufacturing joint venture Happy Bee Foods Processing.

Free Report

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:

Market drivers and inhibitors
Five-year forecasts and the impact of COVID-19
The performance of the online channel versus offline
Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation

Assess developments within this sector to help your business thrive in 2022 and beyond.

By GlobalData

By downloading this case study, you acknowledge that GlobalData may share your information with GlobalData and that your personal data will be used as described in their Privacy Policy

Visit our Privacy Policy for more information about our services, how GlobalData may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In an announcement to the Philippines Stock Exchange, JFC said it has entered into an agreement to buy Hua Xia Harvest Holdings’ 30% equity shareholding in the Happy Bee venture.

Happy Bee operates a manufacturing facility in Anhui, China, that services the requirements of JFC’s Yonghe King foodservice business, as well as other industrial customers.

“The objectives of the acquisition of the 30% ownership of Happy Bee, essentially an equity share and asset swap, are for JFC to concentrate on supporting the growth of its Yonghe King business and on further improving its food quality and increasing assurance on food safety,” JFC said.

Further financial details of the transaction were not disclosed.

According to JFC’s 2014 annual report, there were 858 Jollibee outlets in the Philippines. Internationally, the company has a further 125 outlets – with almost half of those in Vietnam.

In October last year, JFC invested in the US – where it already has around 30 outlets – by buying 40% of fast-casual burger chain Smashburger.

Free Report

What’s the forecast for the food and grocery industry?

Market drivers and inhibitors
Five-year forecasts and the impact of COVID-19
The performance of the online channel versus offline
Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation

Assess developments within this sector to help your business thrive in 2022 and beyond.

By GlobalData

By downloading this case study, you acknowledge that GlobalData may share your information with GlobalData and that your personal data will be used as described in their Privacy Policy