Jollibee Foods Corporation (JFC) is reported to be in the midst of acquiring Norang Tongdak, one of South Korea’s most beloved fried chicken franchises.
The acquisition, estimated to cost Won 100 to 140 billion (roughly US$73-US$102 million), signifies Jollibee’s aggressive plan for international expansion.
Norang Tongdak, with over 750 stores across South Korea, is one of the leading fried chicken brands alongside other brands like BHC, Kyochon, and BBQ Chicken.
Philippines-based Jollibee, which has now become an international brand, has made aggressive acquisitions in recent years ranging from Smashburger in the U.S. to The Coffee Bean & Tea Leaf. The acquisition of Norang Tongdak marks Jollibee’s first direct foray into Korean cuisine scene, following its US$340 million acquisition of South Korea’s Compose Coffee last year.
It could be a smart move as Korean culture has influenced much of the developed world from music to skincare to food. Korean fried chicken, with its crackling skin and punchy sauces, has also become a global favorite. With this acquisition, Jollibee is inserting itself directly into the Korean wave, with an authentic brand that already holds the hearts—and stomachs—of millions.
In addition, with Jollibee’s expertise in localisation, looking at its success in Southeast Asia and the Middle East, Norang Tongdak could soon make its way into Jollibee’s network of international markets.
