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.
Jollibee Foods Corp. said on Monday it completed the share purchase agreement for All Day Fresh. With the deal valued at about 130 billion won ($88.6 million), All Day Fresh has separated from its former parent company Myungryundang and been fully incorporated into the Philippine food conglomerate.
All Day Fresh operates 172 Shabu All Day stores across South Korea, generating annual sales of around 480 billion won, according to the company. Jollibee Foods stated the brand holds a leading position in the South Korean market for all-you-can-eat hot pot, known as shabu shabu, and sees strong growth potential amid rising overseas interest in Korean food.
The company is also considering expanding Shabu All Day into Southeast Asian markets. This acquisition follows Jollibee's purchase of South Korean coffee chain Compose Coffee last year, further strengthening its presence in South Korea's food and beverage sector. Since then, Compose Coffee has expanded into Southeast Asia, including the Philippines and Singapore.
