By James Loyola

Jollibee Foods Corporation (JFC), now the largest food service company in Asia, has forged a joint venture to bring America’s largest family-owned and operated Chinese American restaurant concept to the Philippines

In a disclosure to the Philippine Stock Exchange, Jollibee said it has entered into a 50-50 joint venture with Panda Restaurant Group, Inc. to bring Panda Express restaurants to country.

In its initial phase, the two industry leaders intend to focus on developing five stores in Metro Manila.

“With proven track records in providing great tasting food at a great value, JFC and Panda join hands to introduce American Chinese food, a globally-influenced cuisine inspired by authentic Chinese culinary principles, to the Philippines,” Jollibee said.

Panda Co-Founder and Co-Chief Executive Andrew Cherng said “we feel fortunate to be partnering with a company that has a history of growing and adding significant value to its new businesses.”

He added that, “we look forward to tapping into JFC’s market expertise to grow the Panda Express brand into a household name in the Philippines and, more importantly, actioning our shared value of inspiring people to better their lives.”

“We are thrilled about this relationship between Panda and JFC. Starting from a single restaurant in a California mall to becoming a restaurant chain of over 2,100 stores, Panda Express is a strong brand with a growing global footprint,” said JFC Chairman Tony Tan Caktiong.

He noted that, “very much in line with JFC’s brand portfolio, it has excellent tasting dishes at reasonable price points. Long-term, Panda Express has a high potential for broad acceptance across the country.”

JFC operates the largest food service network in the Philippines with 2,988 restaurant outlets for 7 brands as of August 31, 2018. Abroad, it operates 1,336 stores for 10 brands.

Panda Express, America’s favorite Chinese kitchen, was founded in 1983 and now has more than 2,100 locations throughout the U.S., Puerto Rico, Guam, Guatemala, El Salvador, Aruba, Canada, Mexico, Dubai, Saudi Arabia, Korea, Japan, and Russia.

Panda Express is part of the family owned and operated Panda Restaurant Group, the world leader in Asian dining experiences that also includes Panda Inn and Hibachi-San.