Jollibee plans US spinoff of international business by 2027

Jollibee Foods Corp. plans to spin off its international business and pursue a US stock exchange listing by late 2027.

The Philippine-based fast-food group said it has hired advisers for the planned spinoff, which would see shareholders receive shares in the new international unit equal to their current holdings.

Jollibee’s Philippine operations will remain listed in Manila, with the new entity covering all businesses outside the country.

Its international business accounted for around 43% of the group’s 224.2 billion pesos (US$3.8 billion) revenue in the first nine months of 2025.

🔗 Source: Bloomberg

🧠 Food for thought

Implications, context, and why it matters.

International business led Q3 2025 growth; overseas stores now outnumber domestic

Jollibee’s overseas arm grew 32.4% in Q3 2025, while the Philippines rose 5.5% 1. That pace makes the international business the main growth driver 1. The chain ran 6,859 stores abroad versus 4,556 at home as of September 2025, so most locations sit outside the Philippines 2. It opened 754 stores in 2025 year to date, with 77% franchised 1. Jollibee expects 15% operating profit growth in 2025, though the cited report gave no margin split by region 3.

A spinoff would need Enterprise Resource Planning (ERP) and controls separation across 33 countries, which opens work for enterprise software firms

Jollibee uses SAP Supplier Relationship Management (SRM) and runs four other ERP systems across its brands, which needs complex integration work 4. A US listing eyed for late 2027 will require Sarbanes-Oxley (SOX) compliance plus U.S. Securities and Exchange Commission (SEC) reporting readiness. The international entity also needs separate financial systems, internal controls, and audit trails. The split would cover operations in 33 countries. The company works with Workato (an integration plus automation platform) to separate user interfaces from SAP back-end systems, and it rolled out Ivalua (a procurement software suite) for a procurement overhaul 4 5. Vendors that focus on ERP carve-outs (separating plus standing up IT systems during a divestiture), multi-entity financial consolidation (rolling up subsidiary financials), and cloud migration can pursue work in the run-up to the listing. Experience in retail or restaurant compliance will help.