Jollibee Foods Corp. is making a bigger play for Wall Street. The Philippine food giant said it plans to spin off its international business and list it on a US exchange by late 2027, as it looks to take on global fast food and coffee heavyweights. Shares jumped as much as 14.5% on the news.
The move caps a decade-long shift that’s transformed Jollibee from a regional favorite into a global operator. Roughly seven in ten of its stores are now outside the Philippines, up from just two in ten in 2014, with international operations accounting for about 40% of group revenue.
Why Wall Street is paying attention
Jollibee’s growth abroad is doing the heavy lifting. Same-store sales in North America, EMEA, and China have been outpacing its home market, while acquisitions like The Coffee Bean & Tea Leaf and South Korea’s Compose Coffee have built a global coffee footprint of more than 5,000 locations.
That puts Jollibee squarely in competition with giants like McDonald's and Starbucks, especially as it leans into fried chicken and coffee as its growth engines.
Big ambitions, smaller scale
Jollibee has said it wants to become one of the top five restaurant companies in the world, but it’s still far smaller than its US rivals in both market cap and store count. A US listing would give it more capital and visibility to keep expanding globally and sell that growth story directly to American investors.