Chickenjoy, Barbecue Chicken — and now Mang Inasal at Jollibee restaurants?
This scenario is bound to happen as Jollibee Foods Corporation (JFC) recently announced it is buying 70% of the Mang Inasal barbecue fastfood chain for P3 billion.
In a disclosure to the Philippine Stock Exchange (PSE), Jollibee said it would pay P200 million in downpayment to the owner of Mang Inasal Philippines, Injap Investments, led by Edgar Sia III.
Around 90% of the balance will be paid upon closing of the agreement, with the remaining 10% to be paid three years onward after the deal is reached.
The parent company will continue to hold 30% of Mang Inasal.
The P3 billion-acquisition news comes in the heels of a recent announcement from Jollibee that it will terminate its Delifrance franchise unit in 2011 and news that Mang Inasal will go public (Initial Public Offering) also next year.
Mang Inasal History
Mang Inasal found success as a fastfood chain offering barbecue chicken. Started in 2003, the company now has 303 stores in the Philippines, all but 24 of which are franchised outlets.
It has revenues of P2.6 billion and system-wide sales of P3.8 billion a year.
Total Number of Jollibee stores
Meanwhile Jollibee Foods Corporation, as of July 31, 2010, has a total number of 1,582 store branches in the Philippines: Jollibee (702); Chowking (406); Greenwich (221); Red Ribbon (215); Delifrance (23); and Manong Pepe’s (15).
Forum discussion thread: Jollibee buys Mang Inasal for P3 billion
13 thoughts on “Jollibee acquires Mang Inasal for P3 billion”
not a good buy.. the deal was way overpriced.
I may agree with ricojake… I know Mang Inasal was a successful food chain, but 3B? mmmm
Kudos to Mr Sia 🙂 3B plus 30% ownership, panalo
What I like most about Mang Inasal is that they offer unlimited amount of rice and this is what makes them successful in their business.
I’ve heard that JFC has been making lousy purchases and why not focus on their core market and specialty instead of trying to be a jack of all traders. But then Mang Inasal is yet another truly promising company so I guess it’s worth it.
3 billion isn’t that expensive… knowing how mang inasal very popular nowadays, perhaps a couple of years they will get more than what they invest…
Tama, feeling ko worth it naman sya talaga.
It is also a good move for Mang Inasal, if you know what I mean 😉
HHmm i think they should reject the offer…they have there own ideas,, What will JFC will going to do is to put a lot of their formulas into mang inasal… SO therefore, the original mang inasal will be gone just after a few years… They should do what Mark Zuckerberg did, the founder of faceebook,,, Yahoo offers him 2 billion for facebook but he refuse it because they know they can do it on their own way even without the support of the giant (YAHOO) network..
i would like to complain about mang inasal on the food they serve to me at pioneer
wag ng gumawa ng eksena
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