Jollibee Foods Corporation plans international business spin-off, eyes US listing

Manila, Philippines — Jollibee Foods Corporation (JFC) has announced plans to create a standalone international business, with the intention of listing the new entity on a United States securities exchange. The company said its Philippine operations would remain listed on the Philippine Stock Exchange.

Under the proposed structure, JFC would separate its domestic and international operations into two companies. The existing Philippine business would continue to operate under Jollibee Foods Corporation, while a new entity, Jollibee Foods Corporation International (JFCI), would house all operations outside the Philippines.

JFC said its existing shareholders would own shares in both the Philippine and international companies, subject to regulatory approvals and taxes, allowing them to hold or sell shares in each entity independently.

“As a proudly homegrown Philippine company, we carry our heritage and express our national pride into this next chapter of our journey. Our move toward an international listing demonstrates the strength of the Jollibee Group, a company with Filipino roots competing on the world stage,” said Ernesto Tanmantiong, Jollibee Group global president and chief executive officer.

According to the company, the Philippine-listed business would comprise all domestic operations and brands, and would continue to focus on the local food service market. The proposed international company would consist of JFC’s businesses outside the Philippines, covering multiple brands and geographic markets.

Moreover, JFC said that, once implemented, the transaction is expected to result in shareholders receiving shares in JFCI in proportion to their existing holdings in JFC. The company added that the structure is intended to give investors the option to engage separately with the domestic and international businesses.

Additionally, the company has engaged local and international advisers and has begun work on the proposed structure, including assessments of the timeline, organisational changes, and regulatory requirements. JFC said it is targeting completion of the transaction in late 2027, subject to market conditions, regulatory approvals, and customary reviews.

Meanwhile, JFC noted that the plans remain preliminary and may change, and that there is no certainty the separation or listing will proceed as described, or at all. The company added that further disclosures will be made as required.