Korea regulator approves Jollibee Group unit’s Shabu All Day takeover
Once completed, the acquisition is expected to increase group revenue by about 2% annually.
Jollibee Foods Corporation (JFC) said the Korea Fair Trade Commission has cleared its subsidiary Jolli-K Co., Ltd. to acquire All Day Fresh Co., Ltd., which runs the hot pot chain Shabu All Day.
The approval is an important step in progressing the transaction and reflects Jollibee Group’s expanding presence in Korea, following its earlier purchase of Compose Coffee.
Once completed, JFC expects the acquisition to add about 2% to group revenue, 8% to global EBIT, and 1% to its store network on an annualised basis.
Shabu All Day operates around 170 outlets.
It offers an all-you-can-eat hot pot menu focused on beef, along with prepared dishes, desserts, and alcoholic drinks.
