Philippines-based fast food chain Jollibee Foods has reportedly entered into a franchise deal with Dunkin’ Donuts to open doughnut shops in areas of China, Hong Kong, and Macau, according to Nikkei Asian Review.
Over the next 20 years, Jollibee is expected to open a minimum of 1,459 Dunkin’ Donuts locations as part of a joint venture called Golden Cup, of which Jollibee owns 60 percent. An initial investment of $300 million has been set aside for the franchise agreement.
Jollibee, which began as an ice cream shop in Manila in 1975, now operates nearly 3,000 locations around the world, including a few in the United States (and more to come).
Presently, Jollibee operates several other Asia-based fast food chains, and will now retain exclusive rights to open Dunkin’ Donuts locations in Hong Kong, Macau, and several mainland Chinese cities including Hunan, Fujian, Sichuan, Guangdong, Beijing, and others.