Jollibee to bid for full Buyout of Mc Donalds
MANILA – Good business it is this year for Jollibee Food Corporation, and now it is bidding to buyout Mc Donalds Corporation as a faster way to do expansion globally. And it is expected that the buyout will bring Jollibee Food Corporation to the next level and winner of the global are for fastfood chains.
Jollibee Food Corporation (JFC) is an all Filipino company that is started by Tony Tan, which now owns several food chain brands namely, Chowking, Greenwich Pizza, Red Ribbon bakeshop, Mang Inasal and Burger King Philippines. It is one of the biggest food chain conglomerate in the world which is found in every corners of the world where there is a Filipino. With its good round of investment influx and sales this year, they had planned to expand further and they are looking into better positioning without the need to build new stores and the like. They are more focus into buying global brands, and it will be a full buyout.
Mc Donalds Corporation an all American company which is considered to be the biggest global brand in the world for fastfood, is highly considered by JFC to be fully bought. With a span of 35,000 stores worldwide it is in the best position for rapid expansion by any company who wants to win in this arena. With this, JFC is now in bid to buy the whole corporation but retain the brand and put it on their portfolio. The initial bid out price is US$ 1.2B including all the corporation owned store and branding.
A quick interview with the acquisition lawyer of JFC, they told us that if Mc Donalds Corporation agrees with the buyout price, JFC will own the whole corporation including all its other brands such as Donato Pizzas and etc, and JFC will also reinvent the branding where they will put an M with a Bee, a Clown that is a Bee and Mc Donalds will also update its global core menu, which will include Bangus, Laguna Longanisa and Milky Sopas, and the chicken will also be updated with the one that looks and taste like Jollibee’s Chicken Joy. The lawyer also pointed out that JFC will retain the workforce of Mc Donalds Corporation even the current CEO but will directly report to the chairman of JFC.