Jollibee forays into Mexican food
The border issue is not clearly a problem for Jollibee Foods Corp. (JFC), which now intends to expand into Mexican food business just right after getting into the mainstream American hamburger market via acquisition of Smashburger.
Jollibee chair and founder Tony Tan Caktiong said in a Philippine Daily Inquirer report that JFC is interested to enter the Mexican food business in the United States.
“We’re looking to acquire or work with a group through a joint venture, but we want to play in that (Mexican) category,” Tan Caktiong said.
This was confirmed by JFC president and chief executive Ernesto Tanmantiong, adding that such plan could take place this year.
It was just this year when JFC closed the deal to acquire American burger chain Smashburger.
“With the consolidation of Smashburger into its books, the overseas business [of JFC] now accounts for 30 percent of total business,” the report further said.