Jollibee bags Korea’s leading hot pot chain

Jollibee Foods Corp. (JFC) is expanding its footprint in South Korea with a deal to acquire the country’s leading hot pot chain operator, marking its entry into one of the fastest-growing global dining segments.

In a statement on Friday, the fast-food giant said its 70-percent-owned subsidiary, Jolli-K Co. Ltd., had signed definitive agreements to fully acquire All Day Fresh Co. Ltd., operator of “Shabu All Day,” subject to closing and financing conditions.

The total consideration is about $87 million or roughly 127 billion won, with the final purchase price to be confirmed upon completion.

Founded in 2014 and headquartered in Seoul, All Day Fresh operates the Shabu All Day brand, which has 169 stores across South Korea as of January 2025.

The chain is the No. 1 hot pot brand in the country in terms of store count and systemwide sales, generating about $285 million annually and averaging $2.4 million in revenue per store.

JFC said the acquisition complements its existing Korean platform, including Compose Coffee. This is also seen to strengthen its Chinese cuisine segment while providing entry into the global hot pot category.

This segment is gaining popularity due to increasing demand for healthier and more interactive dining experiences.

Upon completion, Shabu All Day will be consolidated into JFC’s financial statements. It is expected to boost the group’s revenues and profitability.

The deal is projected to increase JFC’s international business contribution to 46 percent of global revenues and lift global earnings before interest and taxes by about 8 percent in 2026.

The acquisition will also expand JFC’s global store network and strengthen South Korea’s contribution to the group’s overall earnings. The company said Shabu All Day’s capital-efficient and franchised business model offers strong growth potential and scalability.

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Jollibee Group Chair Tony Tan Caktiong said that the transaction reflects the company’s strategy of acquiring profitable and scalable businesses that align with its long-term growth priorities.

“With Compose Coffee and now Shabu All Day, Jollibee Group continues to demonstrate its strengthened ability to acquire high‑quality, profitable businesses that align squarely with our strategic pillars and deliver meaningful long‑term value to our shareholders,” Tan Caktiong said.

“These investments reflect Jollibee Group’s disciplined approach to capital allocation, prioritizing opportunities that are both financially accretive and operationally scalable,” he said.

He added that the partnership with Elevation Equity Partners Korea Ltd., which holds a 30-percent effective stake in Jolli-K, would help accelerate the brand’s expansion in one of Asia’s most dynamic food service markets.

According to Euromonitor, the global hot pot market is projected to reach about $90 billion by 2029, with organized chain operators expected to capture a growing share, underscoring the expansion potential of this segment.