Jollibee to drop Manong Pepe for Mang Inasal

Jollibee Foods Corp. (JFC), the country's largest owner and operator of fast food chains, will stop operating its carinderia-style Manong Pepe stores and will concentrate on strengthening its Mang Inasal brand. In a statement Monday, Jollibee told the Philippine Stock Exchange it will convert into its other brands the 10 existing Manong Pepe branches, which serve low-priced Filipino food. "The move is part of JFC's plan to concentrate its resources in building larger quick-service restaurant businesses," the company said. In November last year, JFC bought 70 percent of Mang Inasal, the fastest-growing fast food chain in the Philippines, from its founder Edgar "Injap" Sia for P3 billion. Mang Inasal has grown to 345 stores as of end-2010. JFC explained, however, that it will retain and maintain the Manong Pepe trademark and operating processes for future potential use. Ysmael Baysa, JFC's chief financial officer, said the cessation of Manong Pepe's operations will create no material impact on the company's bottom line. End-2010 figures show that JFC operates 1,921 stores in the Philippines and 395 stores abroad. Besides Jollibee and Mang Inasal, its brands include Greenwich, Chowking, Red Ribbon, Caffe Ti-Amo, Yonghe King, and Honzhuangyuan. — PE/VS, GMA News