Jollibee's Milksha to Invest NT$103.8 Million in Leading Chinese Wellness Soup Brand in Taiwan

Milkshop International Co., Ltd. (Milksha), a 51% owned subsidiary of Jollibee Foods Corporation, has signed an agreement to make a strategic investment of securing a 70% stake in Tien Hsia Sheng Co., Ltd. (Moon Moon Food).

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 980,000
Percentage to the total outstanding shares of the company subject of the transaction: 70%
Price per share: Cash consideration of NT$105.92
 
Nature and amount of consideration given or received: NT$103.8 million
Principle followed in determining the amount of consideration: Multiples-based valuation anchored on FY23 net profit after tax of Moon Moon Food
 
Yung-Cheng Lai, Moon Moon Food Founder and CEO, will retain ownership of the 30% minority interest in Tien Hsia Sheng Co., Ltd. (Moon Moon Food).
 
Moon Moon Food is renowned as the “Leading Brand in Chinese Wellness Soups,” Moon Moon Food Food is a highly popular restaurant brand in Taiwan, recognized by the Michelin Bib Gourmand for seven consecutive years (2018 to present).
 
Moon Moon Food currently operates a profitable business with 13 outlets in Taiwan and opened its first international branch in Singapore in 2024.