By Anna Gabriela A. Mogato
Jollibee Foods Corp. (JFC) has struck a partnership with US-based Panda Restaurant Group, Inc. to bring widely popular Chinese-American food chain Panda Express to the Philippines
In a disclosure to the Stock Market on Thursday, JFC Chairman Mr. Tony Tan Caktiong said that “[this is] [v]ery much in line with JFC’s brand portfolio, it has excellent tasting dishes at reasonable price points.”
“[In the l]ong-term, Panda Express has a high potential for broad acceptance across the country,” he said.
In the same statement, Panda Express Co-Founder and CEO Andrew Cherng said that his group feels fortunate to strike a deal with JFC as it “has a history of growing and adding significant value to its new businesses.”
“We look forward to tapping into JFC’s market expertise to grow the Panda Express brand into a household name in the Philippines and, more importantly, actioning our shared value of inspiring people to better their lives,” he said.
Panda Express, which first opened in 1983, is known for its Chinese cuisine-based dishes such as the Original Orange Chicken, SweetFire Chicken Breast, and Shanghai Angus Steak.
To date, Panda Express has more than 2,100 branches worldwide.
JFC operates 2,988 restaurants worldwide, 1,103 of which under the Jollibee brand.