Jollibee takes over Burger King operation in the Philippines

The fastfood giant Jollibee Foods Corp. takes over the operation of Burger King in the country.

Jollibee acquires the major stake in the firm for 65.5 million pesos or 54% of BK Titans Inc. which is owned by a group of friends composed of Manuel V. Pangilinan of PLDT, Wilson Young of Tanduay Distillers, Philippine Basketball Association chairman Ricky Vargas, Bert Lina of FedEx, and Air 21 president Lito Alvarez.

Burger king has a total of 23 stores in the Philippines, which has a smaller store network compare to Jollibee which has around 733 branches nationwide and 71 abroad.

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Aprub!