Jollibee Foods Corp, the Philippines’ largest restaurant operator, announced on Friday that it has signed a definitive agreement to acquire All Day Fresh Co Ltd, the company behind the Seoul-based hot pot and all-you-can-eat chain Shabu All Day, for approximately US$87 million (RM339.92 million). The acquisition will be carried out through a Jollibee subsidiary.
Jollibee said the purchase “reinforces the company’s commitment to its Chinese cuisine segment and franchising initiatives, while providing entry into the global hot pot market.”
As of January 2025, Shabu All Day operates 169 stores across South Korea, making it the largest chain in the country by store count. The brand generates annual system-wide sales of around US$285 million.
The acquisition follows Jollibee’s July purchase of a 70% stake in Compose Coffee, also based in South Korea, for US$340 million.
Private equity firm Elevation will retain its 30% stake in All Day Fresh and continue as a strategic partner in the business.
Jollibee, which built its reputation in the Philippines with its signature crispy fried chicken, is accelerating its global expansion, competing with international giants such as KFC and McDonald’s. The company has also announced plans to spin off its international operations and pursue a listing in the United States.
