Fast food giant Jollibee Foods Corp. will soon operate popular US baked goods and coffee chain Dunkin’ Donuts in China.

Fast food giant Jollibee Foods Corp. will soon operate popular US baked goods and coffee chain Dunkin’ Donuts in China.

In a disclosure to the stock exchange, JFC said its subsidiary Jollibee Worldwide is teaming up with Jasmine Asset Holding Ltd. to form a company to own and operate the Dunkin’ Donuts chain in China.

Jasmine Asset Holding is a subsidiary of Asia-based investment firm RRJ Capital.

Under the joint venture agreement, Jollibee Worldwide will own 60% of the business, while 40% will be owned by Jasmine.

Jollibee and Jasmine have committed to investing up to $300 million in the joint venture company. Of the amount, Jollibee Worldwide will contribute up to $180 million.

Jollibee Worldwide will also be directly responsible for handling the Dunkin’ Donuts business’ day-to-day operations in China.

Jollibee and Jasmine have also agreed to execute a master franchise agreement with Dunkin’ Donuts once the joint venture company is formed. READ  MORE. . . . . . 

Source: https://aveasia.wordpress.com/2014/12/22/philippines-jollibee-to-own-operate-dunkin-donuts-brand-in-china/

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