Jollibee to bring Panda Express to the Philippines
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Jollibee Food Corp on Thursday said it would bring Panda Express to the Philippines, the popular “Chinese kitchen” in the US.
The initial phase of the 50/50 joint venture between JFC and Panda Restaurant Group Inc intends to develop 5 Panda Express outlets in Metro Manila, JFC told the stock exchange.
“With proven track records in providing great tasting food at a great value, JFC and Panda join hands to introduce American Chinese food, a globally-influenced cuisine inspired by authentic Chinese culinary principles, to the Philippines,” JFC said in a statement.
JFC chairman Tony Tan Caktiong said Panda Express is “very much in line with JFC brand portfolio.”
“We look forward to tapping into JFC’s market expertise to grow the Panda Express brand into a household name in the Philippines and, more importantly, actioning our shared value of inspiring people to better their lives,” Andrew Cherng, co-founder and co-CEO of Panda.
Jollibee Group’s worldwide store network reached 4,324 as of Aug. 31, 2018.
JFC said Panda Express has operations in the US, Canada, Mexico, Korea, Japan and Russia, among others.
Questions & Answers
Q.How many Panda Express outlets are planned for the initial phase of this joint venture?
How many Panda Express outlets are planned for the initial phase of this joint venture?
The initial phase of the joint venture between JFC and Panda Restaurant Group Inc intends to develop five Panda Express outlets. These new restaurants will all be located within Metro Manila.
Q.Which companies are involved in the joint venture bringing Panda Express to the Philippines?
Which companies are involved in the joint venture bringing Panda Express to the Philippines?
The joint venture is a 50/50 partnership between Jollibee Food Corp (JFC) and Panda Restaurant Group Inc. They are collaborating to introduce the American Chinese food brand to the Philippine market.
Q.In which countries does Panda Express currently operate outside of the US?
In which countries does Panda Express currently operate outside of the US?
Panda Express currently has operations in several countries beyond the US. These include Canada, Mexico, Korea, Japan, and Russia, among other locations globally.
Q.What is Jollibee's view on adding Panda Express to its brand portfolio?
What is Jollibee's view on adding Panda Express to its brand portfolio?
JFC chairman Tony Tan Caktiong stated that Panda Express is very much in line with JFC's existing brand portfolio. He sees it as a good fit for their collection of food brands.
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