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Philippines' largest quick-serve Jollibee Foods Corp. has signed an agreement with Guangxi Zong Kai Food and Beverage Investment Co. Ltd  of China to acquire a major stake in beef noodle restaurant San Pin Wang for RMB 30 million (US $4.37 million), reports Bernama.
 
Jollibee plans to grow San Pin Wang in China, particularly South China.
 
From the story:
San Pin Wang, a chain of restaurants with a total of 34 stores in Nanning and Liuzhou, is projected to post an annual sale of RMB 100 million (US$14.58 million) this year.
Jollibee currently operates a total of 1,569 stores in the Philippines plus chains in the United States, Vietnam, Brunei and Dubai. It also operates two brands in China — Yonghe King in Shanghai and Hong Zhuang Yuan in Beijing.

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