Jollibee Foods Corporation & Cargill Jollibee Foods Corporation (JFC) have joined forces with Cargill Philippines Inc, a wholly owned subsidiary of Cargill Inc, to build and operate a poultry processing plant in Santo Tomas, Batangas, in the Philippines.
Cargill and JFC will have a 70% and a 30% stake respectively in the joint venture named Cargill Joy Poultry Meats Production Inc. Cargill will oversee the setting up, management and operations of this facility.
The partnership will create an estimated 1,000 new full time jobs and develop new contract growing opportunities in the farming community in the Batangas and nearby provinces.
JFC will invest Php244.9 million (US$5.2 million) for 30% of Cargill Joy Poultry Meats Production Inc.
The JFC Group of Companies is one of the largest buyers of chicken in the Philippines, with brands Jollibee, Mang Inasal, Chowking, Greenwich and Burger King franchises.