Jollibee buys 70 % of Mang Inasal

There is no doubt that Mang Inasal has grown exponentially in just 7 years! Edgar Sia II, the owner, opened his first Mang Inasal branch at the young age of 20.It was an instant success. He then applied for franchising and by 2009, he had opened one hundred stores. The success of Mang Inasal has been so phenomenal that it has caught the attention of another franchising giant – Jollibee Food Corporation (JFC). JFC has currently has five franchises under its belt – Chowking, Greenwich, Red Ribbon, Manong Pepe’s and of course its flagship Jollibee. And now it wants to add Mang Inasal to the roster.


JFC has offered to buy 70% of Mang Inasal Philippines Inc. (MIPI). This is an offer which MIPI has unconditionally accepted. According to JFC Chief Finance Officer and Vice President Mr. Ysmael V. Baysa, the purchase is estimated to amount to P3 billion. P200 million will be paid initially, 90% on closing and the remaining 10% over the next three years.


If this is the offer that JFC made, its no wonder MIPI agreed to the acquisition. This is definitely an offer they can’t refuse! Now I’m not really a fast food person (too unhealthy) but most Filipinos out there are. Sometimes it is not really the food but the experience that consumers are after. With the success that JFC has attained for all its franchises, I am sure that it will be able to make Mang Inasal soar high to the next level. 


Source: 
http://ph.yfittopostblog.com/2010/10/18/jollibee-to-acquire-70-of-mang-inasal/
http://en.wikipedia.org/wiki/Mang_Inasal