Jollibee Foods Corp. (JFC) announced the acquisition of a 70% stake in Tien Hsia Sheng Co. Ltd. (Moon Moon Food), a Taiwanese restaurant known for its wellness soups. JFC's subsidiary, Milkshop International Co. Ltd., will purchase the stake for NT$103.8 million. Moon Moon Food founder Yung-Cheng Lai will retain a 30% minority interest. This acquisition aims to strengthen Milksha's position in the Taiwanese tea market and expand JFC's presence in the global beverage industry.
Jollibee Foods Corp . on Monday said its unit has signed an agreement to purchase a 70-percent stake in Taiwan ’s Tien Hsia Sheng Co. Ltd. , a company popular for its wellness soups .
Yung-Cheng Lai, Moon Moon Food founder and current CEO, will retain ownership of the 30 percent minority interest in the company. Moon Moon Food is renowned for its Chinese wellness soups. It is a highly popular restaurant brand in Taiwan, recognized by the Michelin Bib Gourmand for seven consecutive years from 2018 to present, the company said.
“They serve a range of classic Taiwanese soups, each packed with fresh ingredients and an expertly balanced blend of tastes. Their menu is a gourmet trip through the rich tapestry of Taiwanese flavors, from the renowned chicken soup to the aromatic and savory herbal soups.
Acquisitions Jollibee Foods Corp Milkshop Moon Moon Food Taiwan Wellness Soups Beverage Industry
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