MANILA - Jollibee Food Corp on Thursday said it would bring Panda Express to the Philippines, the popular "Chinese kitchen" in the US.
The initial phase of the 50/50 joint venture between JFC and Panda Restaurant Group Inc intends to develop 5 Panda Express outlets in Metro Manila, JFC told the stock exchange.
"With proven track records in providing great tasting food at a great value, JFC and Panda join hands to introduce American Chinese food, a globally-influenced cuisine inspired by authentic Chinese culinary principles, to the Philippines," JFC said in a statement.
JFC chairman Tony Tan Caktiong said Panda Express is "very much in line with JFC brand portfolio."
“We look forward to tapping into JFC’s market expertise to grow the Panda Express brand into a household name in the Philippines and, more importantly, actioning our shared value of inspiring people to better their lives," Andrew Cherng, co-founder and co-CEO of Panda.
Jollibee Group's worldwide store network reached 4,324 as of Aug. 31, 2018.
JFC said Panda Express has operations in the US, Canada, Mexico, Korea, Japan and Russia, among others.