Food & Beverage

Jollibee Foods Corp., the Philippines' leading fast food operator, announced on April 20 it has acquired a 100% stake in All Day Fresh, operator of South Korea's Shabu All Day hot pot chain, for 130 billion won ($88.6 million). All Day Fresh has separated from its former parent Myungryundang and fully joined the Philippine conglomerate. The company runs 172 Shabu All Day stores in South Korea, generating annual sales of around 480 billion won.