Jollibee Foods Corporation (JFC) has announced plans to spin off its international business and list the new entity on a U.S. stock exchange by no later than the end of 2027. The announcement triggered a sharp surge in the company’s shares, marking its largest single-day gain in more than five years.
After trading was halted for one hour, Jollibee shares closed up 14.5 percent, their highest level since October 2008. On the same day, JFC emerged as the top gainer among the 30 constituents of the Philippine Stock Exchange’s main index, which rose 2.49 percent overall.
In an official disclosure to the Philippine Stock Exchange, JFC said it has appointed both local and international advisers to prepare the spin-off process and the planned U.S. listing.
The spun-off entity will be named Jollibee Foods Corporation International (JFCI) and will house all of Jollibee’s businesses outside the Philippines. Domestic operations, meanwhile, will remain under JFC and continue to be listed on the local exchange.
How the Split Works
Jollibee’s management said the creation of two publicly listed entities is intended to sharpen the strategic focus of each business and enhance the clarity of their respective investment profiles.
Under this structure, the Philippine domestic business and the international business will be managed as two separate companies with distinct operational characteristics and growth trajectories.
Jollibee added that JFC shareholders will receive shares in JFCI in proportion to their existing holdings in JFC at the time of the listing. Once the spin-off is completed, investors will be able to hold or trade shares of each entity separately, in line with their individual investment strategies.
International Revenue Rising
The planned spin-off aligns with the growing contribution of Jollibee’s international operations to the group’s overall performance. As of September 2025, Jollibee operated a total of 10,304 stores worldwide.
Of this total, 6,859 outlets were located outside the Philippines, spread across more than 30 countries, including the United States, Canada, China, and Vietnam. In the domestic market, JFC operated 3,445 stores during the same period.
From a financial perspective, the international business accounted for approximately 43 percent of Jollibee’s total revenue of 224.2 billion Philippine pesos for the January–September period. This represented a significant increase from previous years, with international operations contributing 28 percent of revenue in 2019 and 21 percent in 2017.
Since 2000, Jollibee has completed 27 cross-border transactions with a combined value of around US$1.1 billion. Its acquisition portfolio includes a range of international brands, such as Smashburger and The Coffee Bean & Tea Leaf in the United States, as well as Compose Coffee from South Korea.
Jollibee Foods Corporation is the largest restaurant company in the Philippines and is best known for its flagship Jollibee brand, which is closely associated with its signature sweet-style Filipino spaghetti and Chickenjoy fried chicken.
To date, the Jollibee Group manages 19 brands globally, with its international business continuing to expand and serving as a central pillar of the company’s long-term growth strategy.
