If it's not enough that Filipinos are dispersed throughout the world doing menial jobs and specialist jobs that natives, for some reason, can't do now Filipino fast-food giant Jollibee is poised to dominate the world via hamburgers.
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| https://www.denverpost.com/2018/02/13/jollibee-buys-stake-denver-based-smashburger/ |
Jollibee has increased it's stake in US burger restaurant Smashburger to 85%. This is not something that happened over night. In 2015 Smashburger was set to go public with an IPO but Jollibee swept in and outright bought a 40% stake for $100 million. Two years later this deal was amended so that Jollibee could purchase additional shares.
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| http://news.abs-cbn.com/business/03/14/17/jollibee-amends-deal-to-increase-stake-in-us-based-smashburger |
The amendment allows Jollibee's wholly-owned subsidiary Bee Good Inc. to purchase more shares in Smashburger parent SJBF between 2018 to 2021, Jollibee told the stock exchange.
Bee Good will be entitled to purchase from Smashburger an additional 45 percent of SJBF shares, from the previous agreement of 35 percent, it said.
Three months in to 2018 and Jollibee has exercised that privilege and is now on it's way to global domination.
“JFC’s acquisition of more shares in Smashburger will allow it to have a more significant business in the United States, increasing the sales contribution from that country to JFC’s worldwide system wide sales from the present 5 percent to 15 percent and the sales contribution from foreign business worldwide system wide sales from present 20 percent to 30 percent,” Jollibee said.
The consolidation of Smashburger into JFC will increase its worldwide store network by 365 or 9.6 percent to 4,162.
“This will also expand JFC’s geographical presence from 16 countries to 21 adding Costa Rica, Egypt, El Salvador, United Kingdom, and Panama,” the company said.
JFC will change Smashburger’s debt structure to reduce its financing costs covering an $-million loan and enable the business to make more investments for long-term growth.
http://www.gmanetwork.com/news/money/companies/645896/jollibee-unit-to-buy-45-more-equity-in-smashburger/story/
All those poor Americans right now sitting down eating a Smashburger and fries oblivious that they are supporting the Jollibee. Oblivious that part of their check will make it's way across the pipes of the internet and into the coffers of the big Bee which keeps silent watch over all 7,000 islands of the Philippines.
How long before their server asks, "Would you like rice with that?"
Now what would happen if David's company tried to get controlling share of a Philippine company? Any guesses as if the Philippine government would allow that?
ReplyDeleteAs for Jollibee set for world domination for hamburgers I have to disagree. Jollibee has 1,100 stores of which 950 are in the Philippines. Smashburger has less than 400 where as McDonalds has 36,000 world wide.
ReplyDeleteArticle 12, sec 10 of the Philippine Constitution seems to say that businesses in the Philippines must be 60% owned by Filipinos. I do not think the government would tolerate a foreign business buying a big stake of a Filipino company. http://www.officialgazette.gov.ph/constitutions/1987-constitution/
DeleteOnce upon a time McDonalds did not have 36,000 stores. With a lot of work and time and buying even more businesses Jollibee could become a global powerhouse. Who knows! :D Interest to note: Jollibee owns a 54% stake in Burger King in the Philippines.
David,
DeleteJollibee owns 54% of the stake of Burger King in the Philippines. By that do you mean they own 54% of the franchises? Said it before and I'll say it again. The U.S needs to stop selling land to anyone who is not a born citizen, same with U.S companies. Trump is right when he says time to end the imbalance. Time to stop being the welfare office of the world.
They have a 54% stake in the company that owns the Burger King franchises in the Philippines. http://news.abs-cbn.com/business/09/30/11/jollibee-acquires-major-stake-burger-king
Delete"In a disclosure to the Philippine Stock Exchange, Jollibee said it has signed an agreement to purchase 54% of BK Titans Inc., which owns PERF Restaurants Inc., the sole franchisee of the Burger King brand in the Philippines."
But they do not own 54% of the stock in Burger King itself and there is the difference. I wonder if the owners of Smashburgers knew what Filipinos were like if they still would have sold out to them. By the way. Have a dog here that needs a good home. A male, does not bite but will not let the other dog eat.
DeleteThey do not own 54% of Burger King itself but they do own 54% of another restaurant company which gives them access to Burger King and maybe even the opportunity to venture into other franchises or whole new endeavours here and abroad. Smashburger faced the risk of the stock market with an IPO or the security of immediate capital with Jollibee buying 40% of the company. A hard decision for sure. I think they probably only saw the $100 million.
DeleteMaybe try tying up the dog during feeding time? They do get very jealous and protective of their food.
David,
DeleteThink better just to find the dog a home. If tied up it nothing but constant howling and yesterday I had to listen to it for about 4 plus hours.
Don't tie it up all day. Just when it's time to eat. It might be hard to find a home for it. Check with PAWS Philippines.
Delete