Jollibee divests stake in C-Joy Poultry Realty

Upgrade to High-Speed Internet for only ₱1499/month!

Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.

Visit Suniway.ph to learn

May 27, 2025 | 12:00am

MANILA, Philippines — Asian food conglomerate Jollibee Foods Corp. (JFC) is divesting its interest in C-Joy Poultry Realty Inc. for P33.88 million.

In a stock exchange filing, JFC said that it executed a share purchase agreement and deed of assignment with Agrotex Commodities Inc. to sell its 113,250 shares in C-Joy Poultry Realty equivalent to 30 percent at P299.16 apiece.

C-Joy Poultry Realty owns the land on which the facilities of C-Joy Poultry Meats Production Inc. are situated.

C-Joy Poultry Meats Production, a joint venture between the Jollibee Group and Cargill, is one of the largest poultry processing plants in the Philippines. It has developed and supplied various poultry products, including whole chicken and marinated choice cuts, to JFC.

While it fully divests its interest in C-Joy Poultry Realty, JFC said that it is retaining its 30 percent stake in C-Joy Poultry Meats Production.

“The divestment is aligned with JFC’s strategic shift toward an asset-light business model, enabling greater capital efficiency and sharper focus on scalable, high-return investments,” the company said.

Earlier this year, JFC was able to secure the green light from the Philippine Stock Exchange (PSE) to remove foreign ownership limit in the company.

The PSE has approved the company’s request to amend its foreign ownership limit from 40 percent to no limit.

JCF’s request was in light of the amendments to the company’s primary and secondary purposes under its articles of incorporation, particularly the removal of its ability to own, acquire, mortgage, pledge or encumber land and/or any interest therein.

Last year, the Securities and Exchange Commission approved the amendment to the secondary purposes under the second article of the amended articles of incorporation of the company.

The amendment has been sought to remove land from among the real properties that may be acquired, mortgaged or encumbered by JFC.

With the approval of the amendment, land has been removed from among the real properties that may be acquired, mortgaged or encumbered by the company.

JFC has set a strategic roadmap for the next five years as part of its vision to become among the top five restaurant companies in the world.

As of end March, JFC’s store network stood at 9,935 composed of 3,393 stores in the Philippines and 6,542 abroad.

The group plans to spend between P18 billion and P21 billion this year to open 700 to 800 stores across brands and regions.

It expects to deliver an eight to 12 percent growth in system wide sales for 2025, with four to six percent growth in same store sales and store network growth of four to eight percent.

Operating profit growth is targeted to be in the range of 10 percent to 15 percent this year.