Mang Inasal Now Fully Owned by Jollibee
Jollibee Food Corporation (JFC) buys out remaining 30 percent equity shares of Mang Inasal Philippines (MIPI) for P2 billion. This move is in line with the terms sited under the Shareholders’ Agreement on 22 November 2010, when JFC acquired the initial 70 percent stake of the MIPI. With this acquisition, JFC now owns 100% of Mang Inasal Philippines.
The JFC Group of Companies will also continue its strong business relationship with Mr. Edgar Sia II, former owner and founder of MIPI, together with his team, primarily the DoubleDragon Properties Corp.
JFC operates the largest food service network in the Philippines. As of 31 March 2016, it has a total of 3, 143 restaurants worldwide including Jollibee, Chowking, Greenwich, Red Ribbon, Dunkin Donuts, Burger King, and the recently owned Mang Inasal.