Jollibee Foods Corp., a leading Asian food service conglomerate, said it will aggressively expand its Milksha® brand into the US market, with an offer to prospective investors to franchise the brand.
Jollibee said its subsidiary Milkshop Japan Inc. has entered into a licensing agreement with MKSA LLC, granting the US-based company the rights to open and operate Milksha® stores in California, New York, and Texas. It added that Milkshop Japan will offer franchising opportunities for other locations across the US.
Jollibee acquired 51 percent of Milkshop International Co. Ltd. in November 2021, a deal valued at USD12.8 million. MKSA LLC, a Delaware-based limited liability company, has been established to manage the Milksha® franchise operations in the U.S.
Milksha, renowned for its premium specialty beverages, represents a strategic opportunity for Jollibee to engage with the rapidly growing global beverage sector, especially in the US. Milksha currently has a store network with 327 outlets as of July 2024. Most of these outlets are in Taiwan at 305. A total 14 are located in Hong Kong, 6 in Australia and 3 in the United Kingdom
Milksha® products are also available in approximately 162 stores of Chowking, another Jollibee brand, in the Philippines.
In 2023, Milksha achieved system wide sales of around USD96 million, a 30 percent increase from the pre-acquisition period. The brand also posted a healthy net profit after tax and maintained an operating cash positive position, delivering cash dividends within a year of the acquisition.
As of July 2024, Jollibee has a global store network of 6,965 outlets, up 4.8 percent year-over-year. It operates 3,341 stores in the Philippines and 3,624 internationally, including 564 in China, 382 in North America, 357 in EMEA, and 797 with Highlands Coffee in Vietnam. JFC’s major brands by store count include Jollibee (1,702 stores), CBTL (1,197 stores), Highlands Coffee (797 stores), and Chowking (615 stores).
