Jollibee gets South Korea nod for Shabu All Day deal

MANILA, Philippines — Fast-food giant Jollibee Foods Corp. (JFC) has secured approval from South Korea’s antitrust regulator for its planned acquisition of hot pot chain Shabu All Day, advancing its offshore expansion.

In a disclosure on Thursday, JFC said the Korea Fair Trade Commission clearance marks a key step toward completing the deal through Jolli-K, its 70-percent owned subsidiary.

Shabu All Day is operated by All Day Fresh Co. Ltd. and is Korea’s largest all-you-can-eat hot pot restaurant chain.

READ: Jollibee to acquire Korea’s top hot pot chain for $87M

Financial impact

JFC said the acquisition is expected to boost group revenues by about 2 percent and global earnings before interest and tax by around 8 percent. The total consideration is about $87 million, or roughly P4.9 billion.

The deal will also add roughly 1 percent to store count, strengthening Jollibee’s scale and presence in the Korean market.

Shabu All Day operates around 170 stores and offers an all-you-can-eat menu centered on hot pot, with beef as its core protein.

The brand is seen as a scalable growth platform, supported by strong demand and store formats averaging about 60 tables per location.

The move follows JFC’s earlier expansion in Korea, including its acquisition of coffee brand Compose Coffee. /dda

READ: Jollibee’s Compose Coffee set for Philippine debut this year