MANILA, Philippines — Jollibee Foods Corporation (JFC) said on Friday that it was expanding its Korean business platform with the full acquisition of All Day Fresh Co., Ltd., operator of Shabu All Day, through its 70 percent-owned subsidiary, Jolli-K Co., Ltd.
The acquisition is expected to strengthen the company’s international portfolio and further diversify its food service offerings, including entry into the fast-growing hot pot segment.
Completion of the transaction was subject to closing and financing conditions, with the final purchase price to be confirmed.
The deal complements Jollibee Group’s existing Korean platform, Compose Coffee, and expands the company’s presence in the hot pot category, a fast-growing global dining segment driven by consumer demand for interactive, communal, and healthier dining experiences.
The total consideration for the transaction is approximately USD 87 million (~KRW 127 billion), representing an estimated 4x EV/EBITDA multiple, a discount to prevailing market valuations.
Upon completion, Shabu All Day’s 169 stores in South Korea will be consolidated into JFC’s financial statements, expected to increase international revenue contribution to 46 percent of global sales and add roughly 8 percent to global EBIT in 2026.
Jollibee Group Chairman Tony Tan Caktiong highlighted the strategic value of the deal, emphasizing its alignment with the company’s growth strategy and focus on high-quality, profitable businesses.
“With Compose Coffee and now Shabu All Day, Jollibee Group continues to demonstrate its strengthened ability to acquire high‑quality, profitable businesses that align squarely with our strategic pillars and deliver meaningful long‑term value to our shareholders,” he said.
“Our continued partnership with Elevation gives us even greater confidence in unlocking the full potential of Shabu All Day. Together, we bring complementary strengths: Jollibee Group’s global operating scale and brand‑building capabilities, and Elevation’s deep market expertise and proven track record in Korea. We are excited to accelerate Shabu All Day’s growth journey and solidify its position as a leading player in one of the most dynamic global foodservice categories,” Caktiong added.
Gordon Cho, Managing Partner of Elevation Equity Partners Korea Limited, noted that the partnership will leverage Jollibee’s global scale and Elevation’s local market expertise to accelerate growth.
“Shabu All Day represents a compelling opportunity in one of Asia’s fastest‑growing dining categories, and we believe Jollibee Group’s global scale and brand‑building excellence, combined with Elevation’s on‑the-ground market expertise, will unlock significant long‑term value,” said Cho.