Jollibee Foods Corp., parent of the quickly Philippine based Jollibee burger chain, said it has entered into a partnership to build nearly 1,500 Dunkin’ Donuts shops in China during the next 20 years.
Jollibee told the media that $300 million has been earmarked for the stores’ development.
The stores will be built by a joint venture of Jollibee and RRJ Capital Master Fund, an investor based in Hong Kong and Singapore.
Jollibee reputedly has a bigger market share than McDonald’s in some parts of Asia, including the company’s home base of the Philippines. It has a limited presence in the United States, mostly in area with large Philippine populations.
The concept’s menu signatures include sweetened burgers and spaghetti.
Jollibee Food Corp. already operates several restaurant concepts in China, including Hong Zhuang Yuan porridge restaurants and Yonghe King noodle shops.