Philippine fast food giant Jollibee Foods Corp (JFC) is continuing its aggressive international expansion strategy with plans to acquire Norang Food Co, the operator behind the popular Korean fried chicken chain Norang Tongdak. This move marks another bold step in JFC’s efforts to strengthen its presence in South Korea’s competitive food and beverage industry.
The acquisition follows JFC’s July 2024 purchase of Compose Coffee, one of Korea’s fastest-growing coffee chains. That deal marked JFC’s formal entry into South Korea — one of Asia’s most dynamic QSR markets.
JFC’s Korean subsidiary has now been named the preferred bidder to acquire a 100% stake in Norang Food Co from private equity firms Corstone Asia and Q Capital Partners. The deal is reportedly valued between USD 96 million and USD 118 million, and is expected to close by the end of 2025, pending final regulatory approvals.
A Strategic Acquisition to Fuel Franchise Growth
Norang Tongdak is widely recognized in Korea for its distinctive yellow fried chicken, achieved through a turmeric-infused batter mix that not only adds flavor and crispiness but also makes it visually memorable. The menu includes several popular variants such as spicy, garlic, and green onion flavors.
The brand has shown strong growth potential, expanding its number of franchise locations from 400 in 2019 to over 750 stores in 2025. Revenue more than doubled from USD 37 million to USD 78 million in 2024 — a key indicator of the chain’s rising consumer appeal and profitability.
JFC’s acquisition strategy has long focused on high-performing, scalable brands in fast-growing markets. Norang Tongdak fits this profile, providing JFC with a valuable foothold in Korea’s massive fried chicken market — one of the most competitive globally.
JFC’s Global Expansion Strategy Pays Off
JFC’s international portfolio continues to drive growth. In Q1 2025, the company’s international system-wide sales rose 29.5%, significantly outpacing its 11.9% growth in the Philippines. Key contributors to this surge include recent acquisitions like Compose Coffee and Tim Ho Wan, both of which are being aggressively expanded across Asia.
The Jollibee flagship brand — particularly its iconic Chickenjoy fried chicken — also continues to perform well across international markets. During the same period, system-wide sales grew in:
- China: +12.9%
- North America: +10.9%
- Southeast Asia: +27.8%
- Middle East: +12.9%
- Europe: +10.9%
- Oceania: +20.2%
Global Brand, Local Relevance
Jollibee Group CEO Ernesto Tanmantiong emphasized that the brand’s consistent global performance reflects its growing foothold in international markets and its ability to resonate with diverse consumer preferences across cultures.
“Our continued growth in key regions confirms that our brands — particularly Chickenjoy — have global relevance. With the addition of Norang Tongdak, we’re not only expanding our presence but also deepening our understanding of regional tastes and franchise dynamics,” said Tanmantiong.
With this acquisition, Jollibee Foods Corp is expected to further accelerate its global transformation — from a homegrown Filipino brand to one of the world’s most competitive and influential QSR players.
Explore Your Chicken Franchise Opportunities
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