JFC to open Mang Inasal outlets in US

MANILA, Philippines – Jollibee Food Corporation (JFC) commits to ensure the growth of Mang Inasal Philippines Inc. and bringing it to the United States after completing the purchase of 70 percent of the grilled chicken fast food restaurant chain.

In a disclosure to the Philippine Stock Exchange, JFC said it has completed and closed the transaction following the compliance with key conditions in accordance with the share purchase agreement signed last November 15.

JFC also disclosed that it signed with Injap Investments Inc., owner of the remaining 30 percent of Mang Inasal, a shareholder agreement under which Mang Inasal founder Edgar Sia II (Injap) is president while Ferdinand Sia is chief operating officer of JFC’s Mang Inasal business.

“Injap and Ferdinand Sia will ensure that the strengths of the Mang Inasal brand and business, its growth momentum and the performance of its organization are sustained,” said JFC chairman Tony Tan Caktiong.

Tan added that “their remaining as leaders of Mang Inasal has been a critical condition to JFC’s acquisition of 70 percent of the business. We look forward to working with them as partners and warmly welcome them to our management team!”

He explained that JFC will focus on using its scale and resources to help boost the Mang Inasal business, particularly in finding more and even better store locations and identifying more franchisees.

JFC will also help in lowering raw material and supply prices, improving Mang Inasal’s financial and management information systems and eventually bringing Mang Inasal to the US to serve the Filipino consumers there.

Jollibee will also help identify ways to increase the sales of each Mang Inasal store, Tan said.