Jollibee Foods Corp, through its subsidiary Jollibee Worldwide, has acquired a majority stake in Milkshop International, operator of Taiwanese milk tea chain Milksha.
Milkshop International was founded in 2008 and is primarily involved in the development, operations and franchising of specialty tea shops that operate under the trade names of Milkshop and Milksha. At present, the company operates over 250 outlets, with 231 stores in Taiwan, four in Hong Kong, two in Melbourne, two in Vancouver and 12 in Singapore.
The acquisition deal is equivalent to 51 per cent ownership and is valued at approximately $12.8M. Meanwhile, one of the Co-Founders of Milkshop will retain the remaining 49 per cent of the company. The deal will see JFC and its subsidiaries, Fresh N’Famous Foods and Mang Inasal Philippines, now have the exclusive rights to sell and market products under the Milksha brand in their stores.
Jollibee said in a disclosure statement: “This gives JFC the opportunity to participate in this fast-growing beverage category and together with Milkshop’s Founder, grow the Milksha brand globally.”
