Jollibee Foods Corp., the top fast-food chain in the Philippines, has made a big move by buying All Day Fresh, which runs the South Korean hot pot chain, Shabu All Day. This deal is worth about 130 billion won, or around $88.6 million. With this acquisition, All Day Fresh has officially separated from its previous owner, Myungryundang.
Shabu All Day has a solid presence in South Korea, with 172 locations and annual sales of about 480 billion won. Jollibee sees significant growth potential for Korean food, especially with the increasing interest from international markets. They’re even looking at expanding Shabu All Day into Southeast Asia.
This isn’t Jollibee’s first venture in South Korea. Last year, they bought Compose Coffee, another local favorite. Since then, Compose Coffee has made strides into Southeast Asia, including the Philippines and Singapore.
Jollibee’s expansion reflects a larger trend. The demand for Korean cuisine has been rising worldwide. According to a recent report, Korean food exports reached $642 million in 2020 and are projected to continue growing, driven by trends on social media platforms like TikTok.
In the competitive fast-food industry, Jollibee is focusing on bringing beloved local dishes to new markets. As more people discover flavors like shabu shabu, the company’s timely investments could create exciting opportunities ahead.
For more insights on global food trends, you might want to check out reports from the Korea Agro-Fisheries & Food Trade Corporation.
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