December 28, 2014

Jollibee Foods Corp and RRJ form joint venture to expand and operate the Dunkin' Donuts brand in China

Jollibee Foods Corp (JFC) announced last week ithat its wholly-owned subsidiary Jollibee Worldwide Pte Ltd (JWPL) entered into a JV agreement with Jasmine Asset Holding Ltd, a wholly-owned subsiary of RRJ Capital Master Fund II LP, an Asian-based investment firm.

Under the agreement, the JV will sign a Master Franchise Agreement with Dunkin' Donuts Franchising LLC to own and operate Dunkin' Donuts stores in key territories in the People's Republic of China. JWPL will own 60% and invest US$180m in the business. JWPL will also be responsible for directing the daily operations of the business.

Under the agreement, the business will have the exclusive right to develop Dunkin' Donuts in the following territories in China: Hongkong, Macau, Fujian, Hunan, Jianxi, Guangdong, Hainan, Guanxi, Beijing, Tianjin, Hebei, Shangxi, Chongqing, Guizhou, Sichuan, Yunnan, Heilongjiang, and Jilin. The JV will operate a minimum of 1459 shops over 20 years. - WealthSec