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Tan Caktiong was born on January 5, 1953 in the then-undivided province of Davao (in now Davao del Sur) to Chinese immigrant parents from Fujian. [6] His father worked in a restaurant in China and as a cook in a Buddhist monastery in Manila before setting up his restaurant in Davao City. [7]
Jollibee is a Filipino chain of fast food restaurants owned by Jollibee Foods Corporation (JFC) which serves as its flagship brand. Established in 1978 by Tony Tan Caktiong, it is the Philippines' top fast food restaurant [3] and is among the world's fastest growing restaurants, [4] expanding its international presence from 2014 to 2024 almost sixfold. [5]
In July 2008, JFC acquired a stake in US-based Chow Fun Holdings LLC, the developer and owner of Jinja Bar Bistro in New Mexico, in which Jollibee acquired a 12% stake for $950,000 and later increased its stake to 80.55% in 2011. However, the company divested its shares in Chow Fun Holdings LLC in 2016 to focus on its larger businesses in the US.
The restaurant started expanding in 1989 and became very successful, growing to half the size of market leader Jollibee. Kuan served as Chowking's president until 2000, when he sold his 50% equity stake to the Jollibee Foods Corporation; Jollibee creator Tony Tan Caktiong was a founding business partner. By then, Chowking had 155 locations.
In 2019, the Philippines' Jollibee Foods Corporation (JFC) acquired The Coffee Bean & Tea Leaf for $650 million, making Jollibee's biggest investment to date. [6] JFC bought it through Java Ventures LLC, a company from the US wholly owned subsidiary of Super Magnificent Coffee Company Pte. Ltd. in Singapore , a subsidiary of Jollibee Worldwide ...
During the Spanish colonial period and subsequent few decades before its replacement by English, Spanish used to be the formal prestige language of Philippine society and hence, Sangley Chinese (Spanish-era unmixed Chinese), Chinese mestizos (Spanish-era mixed Chinese Filipinos) and Tornatras mestizos (Spanish-era mixed Chinese-Spanish or ...
Analysts predicted Jollibee, which was experiencing weak third-quarter results and stock performance, would also benefit financially. [14] Jollibee's chief financial officer of twelve years, dela Rosa was the one who successfully negotiated the stock swap with Kuan. Caktiong offered dela Rosa the role of Chowking's new CEO and president.
Tim Ho Wan was founded in March 2009 by Mak Kwai-pui (a former chef at three Michelin star restaurant Lung King Heen) and Leung Fai-keung, with their first location being a 20-seater restaurant in Mong Kok. [6]