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Jollibee enters into joint venture for frozen desserts

Philippines fast-food giant Jollibee Foods Corp. (JFC) is making its presence felt in the frozen dessert industry through a joint venture that would distribute Caffe Ti-Amo, a Korean restaurant brand offering Italian-style gelato ice cream in a casual dining format.

The joint venture will have an initial capitalisation of PHP100 million (USD2.2 million), with its first store to open in the Philippines’ largest shopping mall, SM North EDSA. Additional stores will open in other major malls.

(Source: philstar.com)