Jollibee Foods Corp.'s (JFC) subsidiary, Milksha, is acquiring a 70-percent stake in Moon Moon Food, a popular Taiwanese wellness soup brand, to boost its presence in the tea market.
HOMEGROWN fast-food giant Jollibee Foods Corp. (JFC) on Monday said that its 51-percent owned subsidiary, Milkshop International Co., Ltd. ( Milksha ), was acquiring a 70-percent stake in a popular Taiwan ese wellness soup brand to strengthen its position in the tea segment.In a stock exchange filing, JFC said Milksha had signed an agreement to invest in Tien Hsia Sheng Co., Ltd. (Moon Moon Food) by buying 980,000 shares at NT$105.92 apiece or at total of NT$103.8 million (about P184.1 million).
'This strategic move reinforces Milksha's position as a leader in the tea segment in Taiwan by accretively integrating Moon Moon Food's resources and complementary offerings to enhance ability to meet evolving customer needs, further strengthening scale, valuation and expanding consumer base of Milksha,' JFC said.'Milksha is an alternative healthy beverage brand under the tea segment, which gives JFC the opportunity to participate in the fast-growing beverage category globally,' the company added.Milksha is majority owned by JFC through Jollibee Worldwide Pte. Ltd. As of end-September last year, Milksha operated 333 stores, of which 309 are franchised. For the nine months to September, Milksha reported systemwide sales growth of 5.6 percent and same-store sales growth of 6.5 percent.Moon Moon Food, JFC said, is a highly popular brand in Taiwan and has been recognized by the Michelin Bib Gourmand for seven consecutive years, from 2018 to the present. The wellness soup chain, which currently operate 13 outlets in Taiwan, opened its first international branch in Singapore in 2024.JFC said payment would be made 'upon completion of the relevant conditions precedent to the closing of the transaction' with standard conditions precedent applicable to the deal.Upon completion of the transaction, Moon Moon Food will be consolidated into Milksha's portfolio and financial reports, and consequently 'JFC will take on 51 percent of any acquisition impact to Milksh
Jollibee Milksha Acquisition Taiwan Wellness Soup
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Jollibee Acquires 70% Stake in Taiwanese Wellness Soup Chain Moon Moon FoodJollibee Foods Corp. is expanding its beverage business with the acquisition of a 70% stake in Moon Moon Food, a Taiwanese wellness soup restaurant chain. This strategic move aims to strengthen Milksha, Jollibee’s boba tea chain, by integrating Moon Moon Food’s resources and offerings.
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