Jollibee opening first story in Italy  

April 3, 2017

Jollibee Foods Corp. said the company through its wholly-owned subsidiary Golden Plate Pte Ltd entered into a joint venture agreement with Blackbird Holdings Pte. Ltd to own and operate the first Jollibee story in Italy. In a disclosure to the Philippine Stock Exchange Monday, Golden Plate and Blackbird shall operate a Singapore company to be owned by the former to the extent of 75 percent, with Blackbird owning 25 percent. The joint venture company shall incorporate a wholly owned subsidiary in Italy to own and operate the store, the disclosure said. Golden Plate and Blackbird have committed to invest up to one million to the joint venture, of which up to 750,000 euros will be contributed by Golden Plate in proportion to its ownership. Golden Plate shall have full management control of the joint venture and operations of the first store. DMS