World-renowned Filipino-company Jollibee will be building its own poultry farm as it partnered with US-based Cargill Inc’s local unit and make the country’s largest fastfood operator having its own poultry processing plant and will no longer rely from outside sources. Jollibee will invest P244.9 million for a 30-percent stake in the plant.
The fast-food giant will also invest another P15.2 million for the lease of the land in Sto. Tomas, Batangas province south of Manila, where the facility will be built.
According to JFC, their business partner, Cargill Philippines will hold the remaining 70-percent share in the venture, Cargill Joy Poultry Meats Production Inc., JFC told the Philippine stock exchange.
The investments of the company founded by one of the world’s most prominent entrepreneur, Tony Tan-Caktiong comes nearly a two years after the company’s best-selling Chickenjoy briefly disappeared from its stores due to a “systems upgrade.”
Jollibee CEO Ernesto Tanmationg also noted that “The facility will provide JFC with dressed and marinated chicken to augment the chicken supply requirements of the growing need of JFC brands,” Jollibee CEO said.
“We will continue to maintain our strong relationship with key chicken suppliers in the country and look forward to sustained long-term supply agreements with them as our businesses grow together,” he said.
Aside from its flagship Jollibee chain, the company also operates Chowking, Greenwhich and Mang Inasal, which serve fried and roasted chicken.
