By 2011, gourmet sandwich and pasta company Delifrance will no longer be part of the Jollibee family. This is according to a disclosure by Jollibee Foods Corporation (JFC) sent to the Philippine Stock Exchange (PSE) on September 8.
The company disclosed that its wholly-owned subsidiary, Fresh N’ Famous Foods Inc. (FNF), has entered into an agreement to sell assets of its Delifrance business unit to CafeFrance Corp. for P100 million cash. In connection with the sale, FNF will terminate its franchise agreement with Delifrance Asia Limited on December 31, 2010.