Jollibee Foods Corp. said Thursday it entered the fast growing bubble tea business through a licensing agreement with Taiwan’s Milkshop International Co. Ltd. or Milksha.
Jollibee said in a disclosure to the stock exchange the company and units Fresh N’ Famous Foods Inc. and Mang Inasal Philippines Inc. obtained exclusive rights to sell and market Milksha products in their stores.
The company said the licensing agreement with Milksha provides the JFC Group the opportunity to participate in the fastgrowing beverage category.
“We are thrilled to bring Milksha to Filipino consumers through the stores of our brands in the Philippines. Our customers can now enjoy from our restaurants both our high-quality food and one of the best bubble teas which is made from very high quality and healthy dairy ingredients,” said Jollibee founder and chairman Tony Tan Caktiong said.
The fast-food giant plans to initially sell Milksha products in Chowking stores.
