The aggressive M&A portfolio

Moment at 28:35 in How This Filipino Fast Food Giant is Secretly Taking Over the US (ft. Jollibee) | AB Explained by Asian Boss.

Jollibee has built a diverse portfolio by acquiring major brands including **Smashburger**, **The Coffee Bean & Tea Leaf**, and the Michelin-starred **Tim Ho Wan**

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• The transition from ice cream to burgers
• Competing with global giants
• The "Cultural Strategy" for flavor
• Developing the signature Chickenjoy
• The $240 million international failure
• Utilizing the global diaspora
• The American turnaround under Maribeth Dela Cruz
• Shifting to a mainstream identity
• The aggressive M&A portfolio
• Deepening roots in South Korea
• Riding the "K-Wave" for flavor alignment
• Future financial scaling via US IPO
• Jollibee = Jolly + bee (making something good from constant effort)
• Basketball is a religion in the Philippines, not just a sport
• The PBA Finals to Filipinos is like the Super Bowl to Americans
• Tony could sell Jollibee to McDonalds
• Or he could become a McDonalds franchisee
• Tony rejected both because he had a vision and wanted to compete with McDonalds
• Tony and his team went to USA to study McDonalds restaurants in-person for weeks
• Reverse engineering the entire operational system
• The standardized processes that ensured every Big Mac tasted exactly the same no matter where in the world you ordered it
• Tony's chemical engineering background helped him approach this a laboratory problem
• 1. Understand the system
• 2. Identify your genuine advantage
• 3. Optimize everything around it
• One critical difference: Taste (Filipino taste)
• Filipinos eat differently
• 1. Rice (always part of every meal)
• A fast food meal without rice isn't a complete meal
• McDonald's menu wasn't built around rice, Jollibee's was from Day 1
• 2. Flavor (Filipinos prefer sweeter taste)
• McDonald's burger seasoning calibrated to Western palettes tasted fine
• Jollibee's sweeter flavor and richer seasoning tasted like home
• 3. Filipinos eat 5-6 meals a day, not 3 like in the West
• Smaller, snackable menu items eaten between meals
• Jolly Spaghetti is a unique food item not served by other restaurants
• It tastes like a Filipino mother makes for her children's birthday parties
• You can't put a price on that kind of product market fit

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