Jollibee deepens Korea bet with FTC approval for Shabu All Day acquisition

Jollibee Foods Corporation (JFC) has secured approval from the Korea fair trade commission (FTC) for its planned acquisition of All Day Fresh, operator of the Shabu All Day hot pot chain, marking a key regulatory milestone in its ongoing expansion in South Korea.

The transaction is being executed through Jolli-K, JFC’s 70%-owned subsidiary, and is expected to further strengthen the group’s presence in one of Asia’s most competitive and fast-evolving foodservice markets.

The approval follows JFC’s earlier acquisition of Compose Coffee, reinforcing a broader strategy of building a multi-brand, high-return portfolio in Korea.

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Earnings-accretive expansion in a high-growth market

Upon completion, Shabu All Day is expected to contribute approximately +2% to Jollibee Group revenues and +8% to global EBIT, alongside around +1% store count expansion.

The group positioned the acquisition as both a scale and profitability driver, with the deal expected to be earnings-accretive and supportive of long-term regional growth.

“Securing Korea FTC approval is an important milestone that advances our planned acquisition of Shabu All Day. This investment strengthens our Korea growth platform and reflects our focus on scalable, high-return concepts that support profitable growth for the Jollibee Group,” said Ernesto Tanmantiong, Jollibee Group global president and CEO.

Richard Shin, Jollibee Group International CEO and global chief financial and risk officer, highlighted the integration focus and operating fit: “FTC approval moves us closer to completing the transaction, and our team is focused on a smooth close and integration. Shabu All Day is a strong operational fit for our Korea platform, with a proven format and clear levers to support continued expansion – while maintaining the brand’s quality and guest experience.”

Scaling a leading Korean hot pot format

Shabu All Day is a leading all-you-can-eat hot pot chain in Korea with approximately 170 stores currently in operation.

The brand differentiates itself through a fully integrated buffet-style format anchored on beef-based hot pot, complemented by hot dishes, desserts, and unlimited alcohol offerings at a competitive price point.

It is positioned as a market leader in terms of footprint, systemwide sales, and revenue within its category, making it a strategic addition to JFC’s expanding international portfolio.

Shabu All Day is characterised by attractive unit economics, with an estimated 2–3 year payback period and a high-capacity store design averaging around 60 tables per location.

This combination of scale-ready store formats and fast capital recovery is expected to support further rollout opportunities in Korea, where demand for all-you-can-eat dining experiences continues to remain strong among consumers.

The Jollibee Group noted that these structural advantages make the concept a compelling fit within its broader strategy of investing in high-return, scalable brands across key international markets.

Jollibee operates a portfolio of 19 brands across more than 10,000 stores and cafés in 33 countries. Its brand portfolio spans full ownership, franchised brands, and strategic investments including Compose Coffee, Highlands Coffee via SuperFoods Group, and Milksha.

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