The agreement includes building and operating a poultry processing plant in Santo Tomas, Batangas, in the Philippines.
Jollibee Foods Corp. (JFC), an Asian foodservice company, and Cargill Philippines, Inc., a wholly owned subsidiary of Cargill Inc., Minneapolis, entered into an agreement 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 called 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.
"We partnered with Cargill to deliver high-quality chicken products through Cargill's technology and quality standards,” says Ernesto Tanmantiong, JFC chief executive officer. “The facility will provide JFC with dressed and marinated chicken to augment the chicken supply requirements of the growing needs of JFC brands. This partnership will meaningfully benefit our customers, our operations as well as the overall Philippine food industry. We will continue to maintain our strong relationship with key chicken suppliers in the country, and look forward to sustained long-term supply arrangements with them as our businesses grow together.”