President Barack Obam

buy pumpkins at Wood's Orchard in Hampton, Va, Wednesday, Oct. 19, 2011. Obama is on a three-day bus tour promoting the American Jobs Act. (AP Photo/Susan Walsh)

Source:http://news.yahoo.com/photos/snapshots-week-of-june-3-1307133161-slideshow/#crsl=%252Fphotos%252Fsnapshots-week-of-june-3-1307133161-slideshow%252Fbarack-obama-photo-1319154625.html

The No. 1 Fastfood Chain in the Philippines

Expansion and acquisitions

Photo of Jollibee at Central, Hong Kong January 2008

The company acquired 80% of Greenwich Pizza in 1994, enabling it to penetrate the pizza-pasta segment. From a 50-branch operation, Greenwich has established a strong presence in the food service industry. In early 2006, Jollibee Foods Corp. bought out the remaining shares of its partners in Greenwich Pizza Corp., equivalent to a 20% stake, for P384 million in cash.[6]  In 2000, the company acquired Chowking, allowing Jollibee to be part of the Asian quick service restaurant segment.[7][8] In 2007, Jollibee acquired the Chinese fast-food chain Hongzhuangyuan.[9]  Jollibee purchased 70% of Taipei restaurant Lao Dong in June and Chun Shui Tang tea house in 2006. In 2004, Jollibee acquired Chinese fast food chain Yonghe Dawang for $22.5 million. Jollibee entered into a joint-venture contract with US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro in New Mexico, in which Jollibee will have a 12% stake for $950,000.[10][11][12]  On August 26, 2008, Jollibee formally signed a P2.5 billion ($55.5 million) deal with Beijing-based Hong Zhuang Yuan through its wholly owned subsidiary Jollibee Worldwide Pte. Ltd. The sale is subject to the approval of China's Ministry of Commerce.  On October 19, 2010, Jollibee acquires 70% share of Mang Inasal, a Filipino food chain specializing in barbecued chicken, for P3 billion ($68.8 million).[13][14][15] The same month, Jollibee signed a deal to acquire 55 percent of China's Guangxi San Ping Wang Food and Beverage Management Co. Ltd., operators of the San Pin Wang beef noodle business for 30 million RMB.[16]
http://en.wikipedia.org/wiki/Jollibee#Expansion_and_acquisitions

Jollibee Buys Burger King Franchisee

October 1, 2011, 12:33am

MANILA, Philippines — Jollibee Foods Corporation (JFC), the country’s top food service company, headed by CEO Tony Tan Caktiong, is acquiring a majority stake in the firm that operates the competing Burger King franchise in the Philippines for P65.5 million.
In a disclosure to the Philippine Stock Exchange, Jollibee said it has signed an agreement to buy 54 percent of BK Titans Inc. which owns PERF Restaurants Inc., the sole franchisee of Burger King in the Philippines.
BK Titans is owned by a group of friends led by PLDT chairman Manuel V. Pangilinan, Tanduay Distillers president Wilson Young, Philippine Basketball Association chairman Ricky Vargas, Philippine franchisee of FedEx Bert Lina, and Air 21 president Lito Alvarez.
The group had acquired the Burger King franchise from Pure Foods Corporation which was then controlled by the Ayala group before it was sold to San Miguel Corporation. Among the assets of the Burger King is a local basketball team.
“PERF Restaurants operates 23 Burger King restaurants in the country, practically all located in Metro Manila,” said Jollibee adding that PERF generates an annual revenue of P800 million and is profitable.
Like Jollibee, Burger King serves hamburgers, fried chicken and French fries as its core products. However, Burger King’s products are priced about 30 percent higher than comparable Jollibee products.
Jollibee said its acquisition of the majority interest in BK Titans will allow it to have presence in the premium price segment of the hamburger category in the Philippine fast food market.
According to Jollibee, it “expects the premium price segment of the fast food market to grow appreciably in the years ahead as the Filipino consumers’ standard of living rises from the growing economy.
Founded in 1954, Burger King is the second largest fast food hamburger chain in the world. It operates more than 12,300 outlets serving over 11 million guests daily in 78 countries and territories worldwide.
Last year, Jollibee also acquired majority control of Mang Inasal which was giving it stiff competition in the fastfood service market. (JAL)

 http://www.mb.com.ph/articles/336226/jollibee-buys-burger-king-franchisee