JOLLIBEE Foods Corp. (JFC) is set to expand its network in Canada with an additional 26 outlets over the next five years after securing multi-unit franchise development agreements in British Columbia and Edmonton.
In a disclosure on Monday, JFC said Jollibee’s North American franchisor, JBM LLC, had signed a 16-store development agreement in British Columbia in July with an experienced multi-brand food retail operator, marking the brand’s official franchise entry into the province.
The agreement follows a 10-store multi-unit development deal for Edmonton signed in June.
Together, the two agreements bring Jollibee’s committed franchise development pipeline in Canada to 26 restaurants.
Jollibee currently operates 28 company-owned restaurants in Canada. With the committed franchise locations, its Canadian network is expected to reach 54 restaurants in the next five years.
The British Columbia agreement also marks Jollibee’s move toward a more balanced company-owned and franchised growth model in Canada, the homegrown restaurant chain said.
The company currently has four company-owned stores in British Columbia.
“Canada continues to be an attractive growth market for Jollibee, supported by strong consumer demand, strong brand relevance, and increasing interest from experienced franchise operators,” said Richard Shin, Jollibee Group chief financial and risk officer and international CEO.
The company said the franchise agreements support its strategy of expanding internationally through a capital-light model while maintaining disciplined capital deployment.
Jollibee said it was continuing to engage prospective franchise partners across multiple Canadian provinces as it seeks to further expand market coverage and scale in key markets.
The company’s shares on Monday dropped P2.10, or 1.39 percent, to close at P148.50 each.
