<article>After sealing the recent $300 million Dunkin&#8217; Donuts China deal, <a href="http://www.jollibee.com.ph/">Jollibee Foods Corp</a>, the Philippines&#8217; largest fast food company, is eyeing a a $1-billion US-based fast-food company, a top executive said.</article>

After sealing the recent $300 million Dunkin&#8217; Donuts China deal, <a href="http://www.jollibee.com.ph/">Jollibee Foods Corp</a>, the Philippines&#8217; largest fast food company, is eyeing a a $1-billion US-based fast-food company, a top executive said.
Local media <a href="http://www.businessmirror.com.ph/jollibee-beefs-up-war-chest-for-us-brand-expansion/">reports</a> quoted Jollibee Chairman Tony Tan-Caktiong as stating that the time was ripe to acquire a US brand with a $1-billion market capitalization as the company is changing its traditional business of serving overseas Filipinos in one of the world&#8217;s largest market.
Also Read:  <a href="http://www.dealstreetasia.com/stories/jollibee-rrj-form-300m-jv-dunkin-donuts-china-ops/">Jollibee, RRJ form $300m Dunkin’ Donuts China JV</a>
&#8220;It should be a strong regional brand so that we can expand. We don’t want a brand that’s already big,&#8221; Tan-Caktiong was as quoted as saying by <a href="http://www.businessmirror.com.ph/jollibee-beefs-up-war-chest-for-us-brand-expansion/">BusinessMirror</a>.
The Filipino tycoon added Jollibee may also look for a partner since such acquisition may be too big, citing a $5.1 billion (P226 billion) market capitalization.
Jollibee, in a stock market filing, later said that it stood by the comments of its Chairman Tony Tan-Caktiong to The BusinessMirror newspaper, regarding its US plans.
Jollibee operates 2,886 stores worldwide, wherein 2,283 are in the Philippines.
The news report also said Jollibee is targeting a 50-50 ownership split between local stores and those in overseas.
In the past weeks, Jollibee together with Hong Kong-based private equity firm <a href="http://www.rrjcap.com/">RRJ Capital</a>  through the latter&#8217;s firm RRJ Capital Master Fund II LP, had created the JV firm Golden Cup Pte Ltd which will run the planned 1,459 Dunkin&#8217; Donuts food chain in China.
Also read: <a href="http://www.dealstreetasia.com/stories/jv-firm-golden-cup-run-dunkin-donuts-china/">JV firm Golden Cup to run Dunkin’ Donuts China</a>
<a href="http://www.bloomberg.com/news/2015-01-22/jollibee-to-seek-pe-partner-for-u-s-fast-food-purchase.html">Bloomberg</a> in a report said as per its data, Jollibee had cash and equivalents of 10.4 billion pesos ($235 million) as of September 30, 2014.
The Philippines company already has a presence in the US and runs stories in 29 locations, according to its website. In its home market, Jollibee operates several brands including Red Ribbon bakery chain, Greenwich pizza parlors, Chowking Chinese restaurants and Mang Inasal chicken barbecue fast-food outlets.
Related Story: <a href="http://www.dealstreetasia.com/stories/alert-rrj-targets-4b-asia/">RRJ targets $4b for new Asia fund</a>

Jollibee shopping for $1b US restaurant chain

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Jollibee shopping for $1b US restaurant chain

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