Jollibee Foods Corporation (JFC) through its fully owned subsidiary, Jollibee Worldwide Pte. Ltd. (JWPL) announced that it has inked agreements to invest US$28 million for a 10% stake in Botrista, Inc. JWPL will be the leading investor. Botrista, a beverage technology industry leader, has over 100 patents worldwide for its proprietary dispense technology, which provides automated solutions for serving cold specialty coffee and tea-based drinks made with quality, all-natural ingredients. Botrista's efficient and user-friendly automated technology allows restaurant and food service owners to provide more drink alternatives, resulting in increased revenues and same-store sales growth with little capital investment.
Sean Hsu, an entrepreneur with over 12 years of expertise, founded Botrista. Prior to creating Botrista, he worked for Tesla as Head of Fluid Engineering in the Battery and Manufacturing sector, where he established automation manufacturing lines in different facilities, focusing on robots and liquid dispensing processes. Hsu has garnered numerous accolades for his technological leadership, including the coveted MIT Innovation and Entrepreneurship Award, the Red Dot Design Award, and more than twenty-five other product innovation awards. JWPL's investment in Botrista is a good fit with JFC's ambition of expanding its coffee and tea industry. It will provide strategic access to new and sustainable platforms and technologies, establishing a door to the USD3 trillion total addressable market for the beverages industry globally by extending distribution channels and providing consumers with healthier alternatives. This allows JFC to harness Botrista's technology skills, resulting in important learnings and synergies that will strengthen JFC's competitive advantage. JFC Chairman Dr. Tony Tan Caktiong commented, “Botrista is a game changer for the beverage industry. We are excited to invest in a company that creates excellent and innovative products enabling food service operators to deliver a world-class customer experience and providing a substantial runway for sustained profitable growth. We look forward to Botrista’s rapid and asset-light distribution and channel expansion that will create more value to its partners and ultimately, the end consumers.” JFC, through JWPL, is funding this investment with its present surplus cash. JFC has a strong cash flow from operations and is committed to sustaining its capital allocation objectives, which include investments in new and current stores, commissaries, and technology. The investment is expected to support Botrista in expanding its market beyond the United States, boosting production capacity, and funding ingredient supply chain development and other R&D initiatives. Botrista CEO Sean Hsu commented, “We are delighted to have JFC as a partner. Our team is committed to winning in the marketplace and this partnership will help us continue investing in our technology to scale more quickly and further improve our innovative capabilities. We look forward to creating more opportunities both for Botrista and JFC to accelerate growth and deliver exceptional value to our customers.” Jollibee Foods Corporation (JFC) is one of the largest Asian food service companies with 18 brands in 33 countries. At the end of January 31, 2024, JFC’s store network increased by 6.3% compared to a year ago. JFC operated 6,887 stores worldwide: Philippines (3,332) and International (3,555): 556 in China, 387 in North America, 344 in EMEA, 786 with Highlands Coffee mainly in Vietnam, 1,168 with CBTL and 314 with Milksha. Its largest brands by store outlets worldwide are Jollibee with 1,668, CBTL 1,168, Highlands Coffee 786, Chowking 614, and Mang Inasal 572
0 Comments
Leave a Reply. |
PLACE YOUR ADS HERE Join and Subscribe to my Newsletter. It's FREE! ABOUT THE
BLOGGER Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. Follow me on FACEBOOK x PLACE YOUR ADS HERE PLACE YOUR ADS HERE Categories
All
|