US restaurant chain Panda Express is heading to the Philippines.
Jollibee Food Corp says it will launch Panda Express Philippines, dubbed “the Chinese kitchen” in North America, after creating a 50-50 joint venture with the parent Panda Restaurant Group.
The first five Panda Express Philippines outlets will open in Metro Manila, after which other regional opportunities will be evaluated for the business.
“With proven track records in providing great tasting food at a great value, JFC and Panda join hands to introduce American Chinese food, a globally-influenced cuisine inspired by authentic Chinese culinary principles, to the Philippines,” JFC said in a statement filed with the stock exchange.
“We look forward to tapping into JFC’s market expertise to grow the Panda Express brand into a household name in the Philippines and, more importantly, actioning our shared value of inspiring people to better their lives,” added Andrew Cherng, co-founder and co-CEO of Panda.
Jollibee Foods chairman Tony Tan Caktiong described Panda Express as an offer “very much in line” with Jollibee’s current portfolio of brands.
Panda Express has stores worldwide, including networks in Korea, Japan and Russia.